DSI manages US$10.5 billion in forex within six weeks: President - ANTARA News Kalimantan Selatan

Jakarta (ANTARA) - President Prabowo Subianto stated that PT Danantara Sumberdaya Indonesia (DSI), a newly established state-owned enterprise tasked with managing strategic commodity exports, has managed US$10.5 billion in foreign exchange after just six weeks of operation.

Addressing a Plenary Cabinet Session at the State Palace in Jakarta on Monday, Prabowo emphasized that DSI was established as a strategic intervention to eliminate decades-old illegal export practices, such as under-invoicing and transfer pricing, which have long drained the nation's resource wealth.

President Prabowo specifically praised DSI Chief Executive Officer Rosan Perkasa Roeslani—who also serves as Investment and Downstreaming Minister—for the rapid turnaround in tracking trade flows.

The President further highlighted the practice of under-invoicing, which he noted has persisted for more than 30 years in Indonesia, resulting in severe losses to the state.

He cited an example where unscrupulous exporters frequently registered crude palm oil (CPO) sales contracts domestically at Rp15,000 per kilogram, despite the actual selling price in European destinations reaching Rp27,000 per kilogram.

“This meant we were losing up to 50 percent of our wealth on a single shipment. We are putting an end to this now,” Prabowo remarked.

Prior to DSI's oversight mandate, the price discrepancy between domestic declarations and international market realities hovered between 30 and 45 percent.

According to the President, the implementation of centralized oversight has already fundamentally corrected the market.

“Since PT DSI was established, the gap has almost leveled out; I have seen the data graph myself,” Prabowo noted.

He emphasized that monitoring strategic commodity flows directly protects the State Budget as well as local farmers and producers who are often shorted by corporate manipulation.

Prabowo concluded his briefing with a strong warning to businesses that export manipulation practices must be stopped immediately and permanently eliminated.

"This is a fraudulent practice. If anyone continues (to do it), we will revoke all their permits. I will not discriminate; we will revoke all permits of those who refuse to comply with the laws of Indonesia," the President noted.

This news was published on Antaranews.com with a title: DSI manages US$10.5 billion in forex within six weeks: President

Pewarta: Genta Tenri Mawangi, Maria Cicilia Galuh, Yashinta
Editor : Mahdani

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