Jakarta (ANTARA News) - President Joko Widodo (Jokowi) has issued Presidential Regulation No. 71 of 2015 on Pricing and Storage of Basic Needs and Important Goods.

Signed on June 15, 2015, the presidential regulation is intended to guarantee adequate stocks and price stability of commodities traded in the markets, Teten Masduki, a member of the Presidents Communication Team, noted in a statement, here on Thursday.

The president hopes to address the price hike and food shortage problems, he stated.

The regulation prohibits the hoarding of basic commodities in warehouses during times of price hikes and shortages in the markets.

The basic commodities include agricultural commodities such as rice, soybean, chili, shallots; industrial goods such as sugar, cooking oil, and flour; cattle and poultry such as beef, chicken meat, and eggs; aquaculture such as milk fish and tuna.

Important goods include seeds of paddy, corn, and soybean, fertilizers, LPG, plywood, cement, construction steel, and light steel.

The presidential regulation gives authority to the government to determine the prices of goods and food items before and during religious holidays and/or when there are drastic price hikes.

Editor: Priyambodo RH
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