"The realization of PSR funds has reached Rp9.6 trillion (US$602 million) for 154,886 plantations, or 344,792 hectares, until June 2024," Hartarto noted in his remarks at the Expo LIKE 2 in Jakarta on Friday.
According to the minister, smallholders in the Land Objects for Agrarian Reform (TORA) program could immediately apply for PSR funds, which the government would distribute through the Oil Palm Plantation Fund Management Agency (BPDPKS).
Hartarto highlighted that the funds were expected to increase the productivity of palm oil plantation owners to 24 tons per bunch per hectare.
"We are currently also preparing presidential regulation on the strategy to support sustainable national palm oil, which is expected to replace Presidential Instruction 6 of 2019," he remarked.
Airlangga further explained that the funds' recipients also need to be assisted in business aspects and collaborate with related stakeholders from the ministries, local governments, the banking sector, and entrepreneurs in the palm oil sector.
"In the future, the capacities of community businesses can be increased through village- and regional-based integration," he stated.
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Translator: Andi Firdaus, Yashinta Difa
Editor: Aditya Eko Sigit Wicaksono
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