REPUBLIKA.CO.ID, Jakarta -- Coordinating Minister for Economy Sofyan Djalil revealed that President Joko Widodo has signed a presidential decree (Keppres) and government regulation (PP) related to crude palm oil export tax or CPO Supporting Fund.

"PP has been signed, the regulation also. Now we just wait for the completion of the formation of the Public Service Agency (BLU) by the Ministry of Finance," the minister said in his office, on Wednesday evening, May 6.

The government is targeting the establishment of BLU completed at the latest than two weeks.  BLU structures will manage the fund of CPO export quotations which is filled by him as Coordinating Minister of Economy, Minister of Agriculture, Minister of Industry, Minister of Trade and Minister of Finance. There is also a kind of supervisory board like commissioners and chief executive.

"Hopefully, it will be finish soon and the target, on end of month, oil export funds will be done effectively," said Sofyan.

As is known, the government will charge exports amounted to 50 dollars per ton for the export of crude palm oil and 30 US dollars per ton for derivatives. This scheme is taken as a substitute duty when the CPO price is below 750 dollars per ton.

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