Govt to issue deregulation package in June<\/p>\n
JAKARTA (JP): The government has decided to wait until next
\nmonth to announce a new package of deregulation measures aimed at
\npreparing Indonesian industries for the global market, a senior
\nminister said yesterday.<\/p>\n
\"We never promised to launch the new deregulation measures
\nthis month. For sure we will issue them next month,\" Coordinating
\nMinister for Production and Distribution Hartarto said yesterday.<\/p>\n
Hartarto said the forthcoming measures have nothing to do with
\nIndonesia's plan to liberalize trade and investment in connection
\nwith the Asia Pacific Economic Cooperation forum.<\/p>\n
\"We have prepared our action plan. But this planned
\nderegulation has nothing to do with the action plan,\" Hartarto
\nsaid.<\/p>\n
Minister of Industry and Trade Tunky Ariwibowo said earlier
\nthat the deregulation package will include fiscal measures
\nrelated to the value added tax as well as monetary measures,
\nparticularly the processing of local and discounted letters of
\ncredit.<\/p>\n
The package will also simplify the processing of export and
\nimport documents to improve the performance of commodity exports,
\nincluding textiles, electronics and wood products.<\/p>\n
The last package, announced in January, eased restrictions and
\ntariffs, duties and taxes on the importing of goods for export
\nindustries, opened up export trading services to foreign firms
\nand cut certain export levies.<\/p>\n
Hartarto said the government is committed to cutting import
\ntariffs and abolishing non-tariff barriers to improve the
\ncompetitiveness of the country's economy.<\/p>\n
When asked about doubts regarding government policy
\nconsistency, especially after the granting of special tax and
\ntariff breaks to a local auto firm, Hartarto reiterated that
\nIndonesia would remain consistent in its economic reform policy.<\/p>\n
\"We are consistent... We have consistently but gradually
\nlowered import tariffs on some 13,000 commodities. It is true
\nthat a number of commodities are still protected but they are not
\nmany,\" Hartarto told journalists after a briefing on the two-day
\nIndonesia Summit that begins today.<\/p>\n
Hartarto said the summit is expected to promote Indonesia and
\nattract more foreign investment.<\/p>\n
The summit, to be opened by President Soeharto this morning,
\nwill feature 11 cabinet ministers, local and foreign business
\nleaders and a number of foreign dignitaries.<\/p>\n
The first day of the summit will present such noted speakers
\nas Hartarto, World Bank President James D. Wolfensohn, Chinese
\nVice Premier Zhu Rongji, Minister of Investment Sanyoto
\nSastrowardoyo, Chairman of Peregrine Investments Holdings Ltd.
\nPhilip Tose, Chairman of Ssangyong Business Group Suk Joon Kim
\nand Dutch Minister of Economic Affairs G.J. Wijers. (rid)<\/p>\n
Stock markets -- Page 12<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/govt-to-issue-deregulation-package-in-june-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }