Yesterday's highlights: BI-Rate impact on mortgage interest to PLN electricity recovery
Housing and Settlement Areas Minister Maruarar Sirait has confirmed that subsidised mortgage interest rates for low-income communities will not increase, even though Bank Indonesia has raised its benchmark BI-Rate. Speaking in Jakarta on Friday, Maruarar, familiarly known as Ara, stressed that the government continues to maintain housing finance affordability for eligible low-income citizens.
The Ministry of Trade announced that Indonesian herbal products secured a business agreement worth Rp2.5 billion for an initial shipment to Saudi Arabia. The deal was formalised through the signing of a Letter of Agreement between Indonesia’s PT Dami Sariwana and its partner, Al Itholah Trading from Saudi Arabia.
Finance Minister Purbaya Yudhi Sadewa stated the government is targeting the issuance of Panda Bonds worth 1 billion US dollars. Speaking in Beijing on Thursday evening, Purbaya said the initial target is 1 billion dollars, but the final amount will depend on market conditions and could be increased if the market allows.
The Ministry of Trade, via the Indonesian Trade Attaché in Bangkok, reported that Indonesian coffee products recorded a potential transaction value of 3.89 million US dollars, equivalent to Rp66 billion, through purchase commitments for 337 tonnes of coffee at the World of Coffee Bangkok 2026 event. The potential transactions were made with 60 prospective buyers from countries including Thailand, the Netherlands, South Korea, Canada, the United States, the United Arab Emirates, Egypt, Oman, India, Brunei Darussalam, the Philippines, Finland, and Taiwan.
State electricity company PT PLN is accelerating the recovery of its power plants to optimise supply from other generators and manage system operations to maintain the balance between electricity supply and demand. Executive Vice President of Corporate Communications and TJSL PLN, Gregorius Adi Trianto, confirmed that PLN continues to work collaboratively on speeding up the recovery.