POLITICS

The government is trying to put a brake on the issuance of new debt in the form of government securities (SBN)

because it considers global risks that have the potential to suppress demand for SBN and increase yields or yields. The Governor of Bank Indonesia, Perry Warjiyo, said that pressure on SBN yields could occur if the United States raises US Treasury yields. "Yesterday the figure was 2.3 percent and it is likely to increase. If it increases, then by market mechanism there will be pressure on SBN yields," said Perry at a press conference of the Financial System Stability Committee, yesterday. He said he would coordinate with the Ministry of Finance to discuss the fair yield of SBN which would remain attractive to foreign capital. The increase in US Treasury yields is only one of the risks that BI is anticipating, in addition to the potential increase in US central bank interest rates and the impact of the Russia-Ukraine war on interest rates. global interest. BI estimates that the Federal Reserve's interest rate hike will be larger than previously predicted. "We estimate five times the other day, with a high increase in US inflation and the impact of Russia-Ukraine geopolitics. We predict a seven-fold increase in the Fed Fund Rate and possibly higher," said Perry.

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Minister of Industry Agus Gumiwang Kartasasmita said the finding of stagnation in supply from producers or suppliers to distributors was the result of inspections to distributors which stated that supply from producers was still stagnate.

Agus said that there are obstacles in distributing cooking oil on every line, starting from production at the manufacturer level, distribution at the first and second distributor levels (D1 and D2) as well as at the retail level. "Even if the producer complies with what we are assigned to produce, then what we have to check is where the goods go, whether to distributors or seeping elsewhere, most likely repacking or entering the industry," he said. At the producer level, he has written to 24 manufacturers who has not fulfilled the production obligations according to the assignment. Of these, there are six manufacturers that have not produced at all. “There are still zero as of today, there are around six. Maybe they have produced but have not been inputted in Simirah," he said. Of the volume assigned to production of 194,000 tons of bulk cooking oil during April 2022, producers have fulfilled 80,000 tons as of April 13, as reported in Simirah. With this amount, the average production per day reaches 6,100 tons, almost meeting the national demand, which ranges from 7,000 tons to 7,7000 tons. However, he stated that verification of production data is still needed. In addition, the distribution flow from producer to retailer level also needs to be monitored. “This is what we have to check where the 80,000 tons go, to D1 or to other places. Is it true that 80,000 tons, we also have to check," he said. Agus also said that the process of disbursing the bulk cooking oil subsidy was still waiting for the recruitment of verifiers at the Palm Oil Plantation Fund Management Agency (BPDPKS). According to him, this is also an obstacle in implementing the subsidized bulk cooking oil program regulated in the Minister of Industry Regulation No. 8/2022.

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The Legislative Body (Baleg) of the House of Representatives (DPR) is preparing to discuss the Draft Job Creation Law following the decision of the Constitutional Court (MK) which declared it conditionally unconstitutional.

The plan to review this bill is carried out in line with the completion of the revision of Law Number 12 of 2011 concerning the Formation of Legislation or the PPP Bill. "We are communicating with the government, whether it is a proposal from the DPR or a government initiative," said the chairman of the Legislative Council, Supratman Andi Agtas, yesterday. He said the discussion of the Job Creation Law had to start from the beginning. The Constitutional Court's decision stated that the omnibus regulation was a formal flaw in the discussion. The government and the DPR were given two years to fix it. According to Supratman, after the recess, the DPR will immediately meet with the government to determine who is considered the initiator of the drafting of the law. Later, he continued, it could be that the substance of the bill will change completely or not change much. "It's just a new arrangement. It will depend on the political understanding between the government and the DPR," he said.

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The meeting around lunch time in the Reconfu Room of the South Sumatra Police Headquarters in Palembang

The representative of Akidi Tio's extended family, a businessman from Langsa, Aceh, who has lived in Palembang for a long time, handed over a donation of IDR 2 trillion, which means almost half of Palembang City's 2021 revenue plan. All donations are intended for handling the Covid-19 pandemic in South Sumatra. That afternoon, the handover of the donation was preceded by the reading of a letter from the family which was read by the extended family doctor of the late Akidi Tio, Hardi Darmawan. The letter contained the reasons why the family spent that much money. Hardi said the deceased emphasized to all of his children that to be successful one must help those in need. This never-ending corona epidemic has pushed Akidi's descendants together. His children, who are in the container business, contractor, plantation, and other businesses, have joint ventures. This global disaster is a field of sharing. As the meaning of the name Akidi which means belief, said Hardi, then be optimistic despite the pandemic. Akidi's youngest child, Heriyanti, who lives in Palembang, handed over assistance to the South Sumatra Police Chief Inspector General Eko Indra Heri. Provincial level officials were present. There was the Governor of South Sumatra Herman Deru and the Danrem 044 Garuda Dempo Brigadier General Jauhari Agus Suraji. Religious and community leaders were also present. According to the plan, the donation money will be sent today, Wednesday (28/7), to the account of the task force that will be formed by the South Sumatra Police Chief. So that the use is right on target, Eko will call a team of experts, asking for opinions on what is needed in the field.

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Coal producers are faced with a larger renewable energy mix in the future.

This challenge is actually being addressed by the more agile coal companies develop downstream and enter the new renewable energy (EBT) sector. Corporate secretary of PT Bumi Resources Tbk (BUMI), Dileep Srivastava said, his party is aware that in the future, there will be an increase in the role of renewable energy. Therefore, BUMI is actively exploring a number of sustainable business areas. "First, through PT Kaltim Prima Coal and PT Pendopo Energi Batubara, we offer solar power. Then, explore the feasibility of various green energy projects," In addition, together with its subsidiary Kaltim Prima Coal, BUMI is working on gasification of coal into methanol with a capacity of 1 ,8 million tons per year. "Coal downstream projects such as methanol and chemicals are in accordance with national priorities," he said.

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Director General of Mineral and Coal at the Ministry of Energy and Mineral Resources (ESDM) Ridwan Djamaluddin said the government continues to encourage the use of technology to produce cleaner energy from coal processing.

However, he assessed that the mastery of the technology was still limited so that it had not yet reached the expected economies of scale. "This challenge is so great that the various coal downstream projects that have been launched so far are still running at a speed that has not met expectations," he said. coal. Therefore, the application of technologies such as carbon capture, utilization, and storage (CCUS) is urgent. CCUS technology is believed to be effective in reducing CO2 emissions due to coal combustion. "Based on a 2015 study by PLN and the World Bank, CCUS is technically feasible to be developed in Indonesia," he said. Indonesia does not yet have a target to stop the use of coal because it still has a high dependence on this commodity. One of the factors driving the development of PLTU is the large coal reserves in Asia Pacific. Specifically for Indonesia, there are coal reserves of 38.84 billion tons which can last for the next 65 years, assuming a production of 600 million tons per year. General Chairperson of the Indonesian Coal Mining Association (APBI) Pandu Sjahrir assessed that carbon credit trading could be a bridge for the coal industry to become carbon neutral.

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POLITICS

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