ASEAN KEY DESTINATIONS
Indonesia may lift import duties to ease prices
Indonesia may lift import duties and value-added tax from several food commodities in an effort to maintain price stability and national food security.
Coordinating Minister for the Economy Hatta Rajasa told a news conference that it was likely that rice, wheat, soy and animal feed would be freed from import duties and VAT.
"We expect that the regulation will become effective next week. It's still being discussed by the corresponding ministries," Antara quoted him as saying.
"This is a fiscal approach in order not to push prices even higher. We will do everything to stabilize our staple foods."
However, sugar will not be included in the import duty exemption, Hatta said, in order to protect local farmers and provide them incentives to boost sugar production.
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