GOVT BEARS RP1.53 TRILLION DUTIES FOR 14 INDUSTRIAL SECTORS

Jakarta, March 11 (ANTARA) - The government has set the amount of government-borne import duties for 14 industrial sectors in 2010 at Rp1.53 trillion.

"The figure is below the ceiling of Rp2 trillion set in the revised 2010 state budget so the remaining fund can immediately be allocated to industries that need the facility," Finance Minister Sri Mulyani Indrawati said on Thursday.

The minister said the government had sped up the enactment of a regulation on the granting of the government-borne import duties this year and therefore, there was no reason to postpone the facility.

She said the granting of the facility in the past couple of years fell short of expectation as reflected by the small number of industries receiving it.

The government had a great interest in ensuring that the granting of the facility would be able to improve the competitive edge of local industries both in the domestic and global markets, he said.

As such, this would encourage the economy to grow at a higher pace, she said.

"It must be realized that the task of the government is to support the policy. It is eventually up to the business world that must improve their competitive edge," she said.

She asked the business world to benefit from the facility to improve their business performance.

The 14 industrial sectors include those engaged in the production of sorbitol, plastic pack, plastic sack, tire wire, ballpoint, heavy-duty equipment.

The others are engaged in shipbuilding, motor vehicle component, optic fiber cable, electronic component, and telecommunication instrument industries.