Economy Policy

Sri Mulyani: Exports, Investments Undeterred by Import Controls

Finance Minister Sri Mulyani Indrawati assured the government’s plans to curb imports would not strongly affect the economic and investment growth in the future. She said the government continued to conduct an evaluation of at least 900 imported goods—the majority of which were consumer goods.

“It [import restrictions] will not affect investments, exports, and domestic products,” said Sri Mulyani today, August 27, at the Finance Ministry office, Jakarta.

The government, Sri Mulyani added, would carry out prior review as to which commodities of consumer products that had been produced or not in the country, and also assess the production capacity of each industry so as to meet public needs.

“So we hope the domestic industry can make the most of this condition,” Sri Mulyani underlined.

Sri Mulyani expected the policy would yield positive influence on the community.

The policy, she explained, would be proportionally regulated in a bid to maintain the economic balance as well as the momentum of economic growth. If the economic growth causes pressures, the government would strive to deal with it without obstructing the momentum.

Meanwhile, the chief economist at Samuel Sekuritas, Lana Soelistianingsih, said the government’s policy to curb imports aimed at reducing dollar purchases. However, she opined the government should be careful in issuing a regulation, such as raising the import tax.

Lana, begging to differ with Sri Mulyani, feared import restrictions would later burden the community in the future. “If the hike on the import tax is okay, how about the importers? It must affect the price for consumers and that’s not fair.”

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