Yesterday's economy: BI independence to Molinas development

The Government Communication Body (Bakom RI) has affirmed that there has never been any discourse to make Bank Indonesia (BI) part of the government. Bakom RI’s Principal Expert, Fithra Faisal Hastiadi, stated that the central bank’s independence is enshrined in the constitution.

Coordinating Minister for Economic Affairs Airlangga Hartarto said Indonesia is prioritising a greener industrial transformation based on solar power. He noted that, in line with President Prabowo’s directives, the priority includes green energy, particularly the shift towards a solar-based industry with a target capacity of around 100 gigawatts within two to three years.

Airlangga also urged PT Pegadaian and PT Bank Syariah Indonesia to move 20 per cent of the 1,800 tonnes of gold held by citizens ‘under the pillow’ into the bullion ecosystem. He said the gold is worth 252 billion US dollars and should be shifted into financial instruments.

The Coordinating Ministry for Economic Affairs revealed four main criteria for the development of the National Electric Motorcycle (Molinas). Assistant Deputy for Industrial Development Atong Soekirman stated that motorcycles in the Molinas category must have a domestic component level above 60 per cent, covering main components such as the power train, frame/structure, and plastic and body panels.

The ministry also stated that the Molinas programme will provide fuel subsidy savings of Rp82.2 trillion between 2027 and 2037, assuming 11 million units are operating by 2037.