Selected items of government post-IMF economic reform programs
Policy Action Plan Output Time frame _______________________________________________________________
A. Fiscal Consolidation
- Tax reform Increasing tax revenue, Amendment Sept 03-
improving investment of tax law Jan 04
climate, competitiveness
through streamlining of
tax category and
tariff structure
- Tax administrative reform Improving tax Minister Continuing
restitution of Finance process
process decree
Recover tax Intensify Continuing
arrears collection efforts process
Raising the 60,000 additional Dec 2003
number of tax individual taxpayers
taxpayers 50,000 additional
corporate taxpayers
Large Tax 100 additional Dec 2003
Office to handle large taxpayers
more taxpayers
- Improving Draft law on state State Finance Bill Sep 03- efficiency of finance March 04 state budget
Revision of presidential Presidential Sep 03
decree on government decree
procurement
Reorganization of Presidential March 04
the Ministry of decree
Finance
Improving mechanism Revision of existing
for govt borrowing regulation Jan 04
Consolidation of Single treasury
govt accounts account Sep 04
- Consolidate Amendment of regional Draft of the Sep 04 fiscal autonomy law new law decentralization
- Privatization of Privatization of 2003/2004 state enterprises 10 SOEs (among
others BRI, PGN,
Danareksa, Angkasa
Pura I)
B. Finance Sector Reform
- Financial safety Finalizing concept Final concept Sep 03 net
Establishing
insurance deposit scheme
Phasing out of govt Presidential --
blanket guarantee decree
scheme
Establish the Blueprint of After
Financial Services the the law
Authority Institution institution has been
approved
- Divestment of Sale of govt shares Proceeds for Sep03- banks in Bank Niaga, Lippo state budget, Feb04
BII, and Bank Permata and healthier
bank sector
Further sales of govt 2004
shares in BCA, BII,
Danamon, Permata,
and Niaga
Sale of non-performing Nov 03
loan assets under IBRA
Sale of property assets Nov 03
under IBRA
Divestment of assets Nov 03
of ex-bank owners
- Improving IPO of Bank BRI Sep 03 governance at state banks
- Curb money Actions range from Sep03- laundering new money-laundering June04
law to boosting the
capacity of local money
laundering task force,
and guidelines for banks,
other financial institutions
- Restructuring Enforcing new capital All firms have Dec03 securities firms requirements complied with
new requirements
- Restructuring Sep03- the stock markets May04
- Strengthening New concept Dec03 supervision of for industry mutual fund industry
C. Increasing Investment, Export, Job Opportunities
- Improving legal Review investment Presidential Dec03 certainty negative list decree
Propose draft of Draft Dec03
investment law
- Streamlining One roof service Presidential Oct03 investment procedure decree
- Resolving problems Setting up of a Presidential Oct03 in investment, export national decree sectors taskforce
- Streamlining Tariff harmonization Continuing export procedures process
- Curbing corruption Anti corruption commission,
revision of existing laws
Blueprint of commercial court Nov 03
__________________________________________________________________ Source: www.ekon.go.id