Threat to state-owned export entity over coal-price manipulation, Purbaya: I'll tax them

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has confirmed that the government will not relax strict oversight of the state-owned enterprises dedicated to exports that will single-handedly manage Indonesia’s foreign trade activities, namely PT Danantara Sumber Daya Indonesia (DSI).

If PT DSI engages in unscrupulous exporter practices such as under-invoicing, or selling Indonesian export commodities below market price, and exploiting transfer pricing schemes at subsidiaries abroad, then he will not hesitate to heavily tax that state-owned enterprise.

Because the principal reason President Prabowo Subianto formed this dedicated export state-owned enterprise is to close leakage in Indonesia’s natural-resource export earnings, which at cumulative value from 1991 to 2024 reached US$908 billion, equivalent to Rp15,980.8 trillion (assuming an exchange rate of Rp17,600 per US$1).

“The institution to be formed by the president will structurally remove that potential, unless it remains the same, but I think if the government isn’t serious, then if they’re not serious I’ll tax them, watch out,” Purbaya said in Jakarta, quoted on Thursday (21 May 2026).

As is known, the export activities of the Special Export State-Owned Enterprises will, in the initial phase, run in June 2026. This was stated by the Minister of Investment/Head of BKPM and also Danantara’s CEO Rosan P. Roeslani.

“To improve and refine, openly while upholding high governance, we will start from June to December. All transactions related to exports will be linked to the state-owned enterprise initially,” Rosan said at a press conference delivering the Macro-Economic Framework and Key Fiscal Policy for the 2027 Budget Year, in the Meeting Room, Parliament Complex, Wednesday (20 May 2026).

Airlangga Hartarto, the Coordinating Minister for Economic Affairs, revealed that the body will manage exports of three main commodities: coal, palm oil, and ferroalloys or iron alloys. In the initial phase, exports through the state-owned export enterprise will be conducted between company and buyer.

“This will apply for three months and subsequent evaluations will be conducted by the export state-owned enterprise. In other words, everything will be carried out entirely by Danantara,” he said.

Here is the scheme of the Government Regulation on Governance of SDA Commodity Exports as outlined by President Prabowo Subianto:

Phase I: (Export processing)

From 1 June to 31 August 2026

Companies must transfer their transactions to the state-owned enterprise

The state-owned enterprise must transact and contract with all foreign buyers

Phase II: (Export processing)

From 1 September 2026

Transactions and contracts with foreign buyers -> wholly the responsibility of the state-owned enterprise

Responsibility and authority of export management -> BUMN