Energy Markets
INSTANT VIEW - Indonesia will set up a state-owned firm to manage sales of its key resource exports
On Wednesday, Prabowo Subito, the president of Indonesia, told the parliament that Indonesia would set up a firm to handle exports of natural resource, including palm oil and coal. The President said that the policy is aimed at maximizing government revenue and strengthening monitoring, as well as combating under-invoicing. COMMENTS: EDDY MARTONO (the chairman of GAPKI, the Indonesian palm oil producers 'association) Not all exporters have processing industries. Many of these companies are also traders or trading firms that deal with relatively small volumes in certain countries. What will happen to these companies with the creation of this body?" Even...