Yesterday's Headlines: Zero Tariff on Textile Products to Stock Price Manipulation

Jakarta (ANTARA) - A range of economic developments from Friday (20/2/2026) remain noteworthy for review this Saturday morning, from the Indonesian and United States governments agreeing on a zero per cent tariff for Indonesian textile and garment products, through to the Financial Services Authority (OJK) imposing Rp5.7 billion in fines on parties found guilty of stock price manipulation.

The following is a summary of selected stories.

Indonesia and US Agree on Zero Tariff for Textiles Under Specific Quota

The Indonesian and United States governments have agreed to eliminate import duties, setting a zero per cent tariff for Indonesian textile and garment (apparel) products through a specific quota scheme.

The agreement between the two countries uses a Tariff Rate Quota (TRQ) mechanism, which allows a certain volume of textile and garment imports from Indonesia to enter the US at zero per cent tariff. However, the volume is determined based on the quantity of textile raw materials imported by Indonesia from the US, such as cotton and man-made fibre.

Transport Minister Predicts Approximately 144 Million Lebaran Travellers in 2026

Transport Minister Dudy Purwagandhi predicted that approximately 144 million people will undertake the Lebaran 2026 (Eid al-Fitr 1447 H) homecoming journey based on national survey results, with the potential for an increase compared to the previous year’s actual figures.

“We conducted a survey indicating 143.7 million people, or nearly 144 million, will be travelling. However, we are anticipating a possible increase because last year’s survey showed 146 million, while the actual figure reached 154 million,” said Dudy following a coordination meeting on Lebaran transport preparations at Grahadi State Building, Surabaya, East Java, on Friday.

Rosan: Freeport’s US$20 Billion Investment for Mining Licence Extension

Investment and Downstream Industries Minister/BKPM Head Rosan Roeslani announced that the Indonesian Government and Freeport-McMoRan (FCX), a US-based mining company, have signed a Memorandum of Understanding (MoU) regarding the extension of the Special Mining Business Licence (IUPK) at Grasberg, Central Papua.

The extension covers the period 2041-2061. Rosan stated that the investment value under the extension amounts to US$20 billion over the next 20 years.

Finance Ministry Clarifies Minister’s Remarks on State Budget Legal Challenge

The Ministry of Finance has clarified remarks made by Finance Minister Purbaya Yudhi Sadewa in response to a legal challenge filed by honorary teachers against Law Number 17 of 2025 concerning the 2026 State Revenue and Expenditure Budget (APBN).

“The Finance Minister never explicitly stated that the legal challenge would fail. Rather, the Minister was conveying the conditional prerequisites of a legal challenge — namely that it could either fail or succeed,” said Head of the Ministry of Finance’s Communications and Information Services Bureau, Deni Surjantoro, in a press release in Jakarta on Friday.

OJK Imposes Rp5.7 Billion in Fines on Three Parties for Stock Price Manipulation

The Financial Services Authority (OJK) has imposed administrative sanctions in the form of fines totalling Rp5.7 billion on three parties found guilty of manipulating the share price of PT Impack Pratama Industri Tbk (IMPC) during the period 2016-2022.

The parties involved in the IMPC share price manipulation comprise both corporate and individual elements, including PT Dana Mitra Kencana as well as individuals with the initials MLN and UPT.