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Govt to issue second economic policy package by September end

Jakarta (ANTARA News) – The Indonesian government plans to reveal the second phase of the economic policy package at the end of September to maintain the performance of the national economy, a senior minister said.

“We will make every effort to issue it at the end of this month,” Coordinating Minister for Economic Affairs, Darmin Nasution said on Friday.

The second phase of the economic policy package will support the first package issued on September 9. However, the number of regulations revised in the second package will not be as great as the first package, he said.

“In the previous package, the number (of regulations revised) were too large. We dont remember them one by one. As a result, we cannot explain them completely,” he stated.

Unlike the first package, the second package will not need a long deregulation process at the Coordinating Ministry for Economic Affairs, he said.

Up till now, 16 government regulations and presidential regulations, including the first package have been discussed and are awaiting signatures from relevant ministers and an approval from the President, he stated.

At a ministerial level, 36 regulations have also been discussed. At this level, the deregulation involves not only a revision and simplification, but also a combination of regulations.

The combination of several regulations into one regulation is expected to reduce the burden of regulations because too many regulations can be simplified. The 38 regulations will be combined into a set of 24 regulations, he said.

On September 9, the government had announced the first phase of its economic policy package.

President Joko Widodo had said the economic policy package will strengthen the national industry and will help develop small and medium enterprises.

“The stimulus package is expected to facilitate inter-regional trade and tourism, as well as improve the lot of fishermen and boost fish catch. The package will also economize fuel consumption by 70 percent through the conversion of diesel into liquefied petroleum gas (LPG),” the President said while announcing the package.

He also enumerated three measures contained in the economic policy package.

Firstly, the government would encourage national and industrial competitiveness through investment deregulation, law enforcement and business assurance.

Secondly, the government would accelerate the national strategic project by removing obstacles in the implementation and completion of projects.

Thirdly, the government also plans to ramp up investment in the property sector.

“A total of 89 regulations have been revised as part of efforts to make procedures more coherent, prune irrelevant regulations and increase the competitiveness of the national industry,” the President reiterated.

Source: www.antaranews.com, Saturday, 26 September 2015