ID :
26904
Mon, 10/27/2008 - 19:33
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Shortlink :
http://m.oananews.org//node/26904
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STATE-OWNED COMPANIES ORDERED TO WITDRAW DOLLARS FROM ABROAD
Jakarta, Oct 27 (ANTARA) - The Indonesian government has ordered state-owned companies to withdraw the dollars they have been keeping abroad and redeposit them at home, a cabinet minister said.
The measure was necessary to help stabilize the rupiah's exchange rate against the US dollar which has been fluctuating in the past few days, State Enterprises Minister Sofyan Djalil said here Monday after a meeting at the presidential office.
"In view of the rupiah'a depreciation, we want the dollars owned by state companies to be put into a clearing house in the country. We will be monitoring the process," he said.
He said it was now the government's policy to minimize state enterprises' need for foreign currencies so that supply of foreign currencies would increase and demand for the currencies would diminish.
Djalil said Pertamina (state-owned oil company) particularly had been instructed to make as many of its payments as possible in rupiah rather than in foreign currencies.
"Pertamina has been instructed wherever and whenever possible to always pay in rupiah so that it will not need a lot of dollars," he said.
He said the use of bio-diesel would also be intensified because it was bought with rupiah. "We will speed up the use of bio-diesel because it is purchased using rupiah and also to help oil palm farmers," he said.
Acting coordinating minister for the economy Sri Mulyani meanwhile said that her office was continuously monitoring developments in the rupiah's exhange rate.
"We will continue monitoring all the developments be they exchange rate, oil price and others to see their impact on the national budget and other things," she said.
About the rupiah's depreciation to Rp10,700 against the US dollar, Mulyani said it would continue to be monitored to anticipate any eventuality.
The measure was necessary to help stabilize the rupiah's exchange rate against the US dollar which has been fluctuating in the past few days, State Enterprises Minister Sofyan Djalil said here Monday after a meeting at the presidential office.
"In view of the rupiah'a depreciation, we want the dollars owned by state companies to be put into a clearing house in the country. We will be monitoring the process," he said.
He said it was now the government's policy to minimize state enterprises' need for foreign currencies so that supply of foreign currencies would increase and demand for the currencies would diminish.
Djalil said Pertamina (state-owned oil company) particularly had been instructed to make as many of its payments as possible in rupiah rather than in foreign currencies.
"Pertamina has been instructed wherever and whenever possible to always pay in rupiah so that it will not need a lot of dollars," he said.
He said the use of bio-diesel would also be intensified because it was bought with rupiah. "We will speed up the use of bio-diesel because it is purchased using rupiah and also to help oil palm farmers," he said.
Acting coordinating minister for the economy Sri Mulyani meanwhile said that her office was continuously monitoring developments in the rupiah's exhange rate.
"We will continue monitoring all the developments be they exchange rate, oil price and others to see their impact on the national budget and other things," she said.
About the rupiah's depreciation to Rp10,700 against the US dollar, Mulyani said it would continue to be monitored to anticipate any eventuality.
