Indonesia: Palm Oil Plantation Agency officially manages these two commodities

Published 2024년 10월 23일

Tridge summary

The Indonesian government has created the Plantation Fund Management Agency, as per Presidential Regulation Number 132 of 2024, signed by former President Joko Widodo. This new agency, under the Ministry of Finance, will manage funds from plantation businesses and other sources to support domestic plantations, focusing on commodities like palm oil, cocoa, and coconut. The funds will be allocated for development, research, rejuvenation, and biofuel production. It replaces the Palm Oil Plantation Fund Management Agency and will be overseen by a steering committee of eight ministries.

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Original content

The government has officially established the Plantation Fund Management Agency. The establishment is stated in Presidential Regulation (Perpres) Number 132 of 2024 concerning Plantation Fund Management and the policy was signed by former President Joko Widodo (Jokowi) on October 18, 2024. In other words, the regulation was signed two days before Jokowi stepped down from his seat. ADVERTISEMENT "The Plantation Fund Management Agency, hereinafter referred to as the Fund Management Agency, is an agency formed by the Government to collect, administer, manage, store, and distribute funds," said the regulation in article 1 number 7, quoted by Warta Ekonomi, Wednesday (23/10/2024). Furthermore, the funds collected by the Plantation Fund Management Agency (BPDP) will come from plantation business actors, funds from financing institutions, community funds and other legitimate funds. Also Read: Palm Oil Plantation Sector is Vulnerable to Work Accidents, BPJS Employment Holds K3 Training of ...

Source: Wartaekonomi