The certain natural gas prices (HGBT) program will continue to be implemented as long as the related presidential regulation remains in effect, Minister of Industry Agus Gumiwang Kartasasmita has said.
"In our view, as long as the presidential regulation exists, the HGBT Program will continue to run," he informed in Jakarta on Monday.
Kartasasmita was referring to Presidential Regulation No. 121 of 2020 concerning amendments to Presidential Regulation Number 40 of 2016 on the determination of natural gas prices, which stipulates a plant gate price of US$6 per million British thermal unit (MMBTU).
He underlined that the HGBT Program has been helpful to Indonesian industry players as it has increased economic value by threefold.
"The HGBT Program has proven (to be beneficial) to seven sub-sectors. The values of exports and investment as well as the rate of workforce absorption have increased by three times owing to the program," he highlighted.
He then urged ministries and agencies associated with the program to take into account the benefits gained by the country.
"We need to take a look at the benefits offered by the program for the sake of our national interests," he stressed.
Earlier, on Saturday (March 23, 2024), the Industry Ministry's director general of metal, machinery, transportation, and electronics industries, Taufiek Bawazier, revealed that the HGBT Program contributed Rp157.20 trillion (almost US$10 billion) to the national economy.
He said that the registered profit crossed the budget used for the implementation of the program during 2021–2023, pegged at Rp51.04 trillion (around US$3.2 billion), by three times.
During the period, the HGBT Program raised the combined export value of seven industrial sub-sectors, including fertilizer, petrochemical, steel, ceramic, glass, oleochemistry, and rubber, to Rp84.98 trillion (US$5.3 billion).
The program also attracted new investments worth Rp31.06 trillion (almost US$2 billion) in total.
Related news: Palm oil price down 10% yoy in Aug: BPS
"In our view, as long as the presidential regulation exists, the HGBT Program will continue to run," he informed in Jakarta on Monday.
Kartasasmita was referring to Presidential Regulation No. 121 of 2020 concerning amendments to Presidential Regulation Number 40 of 2016 on the determination of natural gas prices, which stipulates a plant gate price of US$6 per million British thermal unit (MMBTU).
He underlined that the HGBT Program has been helpful to Indonesian industry players as it has increased economic value by threefold.
"The HGBT Program has proven (to be beneficial) to seven sub-sectors. The values of exports and investment as well as the rate of workforce absorption have increased by three times owing to the program," he highlighted.
He then urged ministries and agencies associated with the program to take into account the benefits gained by the country.
"We need to take a look at the benefits offered by the program for the sake of our national interests," he stressed.
Earlier, on Saturday (March 23, 2024), the Industry Ministry's director general of metal, machinery, transportation, and electronics industries, Taufiek Bawazier, revealed that the HGBT Program contributed Rp157.20 trillion (almost US$10 billion) to the national economy.
He said that the registered profit crossed the budget used for the implementation of the program during 2021–2023, pegged at Rp51.04 trillion (around US$3.2 billion), by three times.
During the period, the HGBT Program raised the combined export value of seven industrial sub-sectors, including fertilizer, petrochemical, steel, ceramic, glass, oleochemistry, and rubber, to Rp84.98 trillion (US$5.3 billion).
The program also attracted new investments worth Rp31.06 trillion (almost US$2 billion) in total.
Related news: Palm oil price down 10% yoy in Aug: BPS
Translator: Ahmad M, Tegar Nurfitra
Editor: Rahmad Nasution
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