Chief Investment Officer of Danantara Indonesia, Pandu Sjahrir, said the government would avoid disrupting agreements already signed between exporters and overseas buyers while consulting industry groups on the transition.
"We do not want to disrupt existing contracts. We want everything to run smoothly and continue properly,” Pandu told reporters at the Coordinating Ministry for Economic Affairs office in Jakarta.
He said the government was gathering input from industry players through meetings with natural resource sector associations and major exporters over the next two days.
The consultations follow the establishment of PT Danantara Sumberdaya Indonesia, a special state-owned export enterprise that will initially act as an intermediary before eventually becoming the sole exporter of selected commodities.
The commodities include crude palm oil, coal, and ferroalloys.
Chief Executive Officer of Danantara Indonesia, Rosan Roeslani, also said the government would respect all valid long-term contracts signed by exporters and buyers.
“We will honor all existing contracts,” Rosan said.
He said authorities would still review contracts suspected of pricing below global market benchmarks or involving under-invoicing.
Rosan said many long-term commodity deals do not fix prices when signed, with final pricing determined when shipments begin based on market conditions.
If contracts are later found to be priced below international indexes, the government will review them, he said.
“We will evaluate any contract if there are indications of under-invoicing,” Rosan added.
Energy and Mineral Resources Minister Bahlil Lahadalia said on Wednesday that a new government regulation on natural resource export governance would not affect coal export contracts through the end of 2026.
He said exporters would instead undergo a transition period before coordinating transactions with state-owned firms appointed by Danantara.
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Translator: Bayu Saputra, Martha Herlinawati Simanjuntak
Editor: Azis Kurmala
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