VIVAnews - The House of Representatives (DPR) finally passed the Draft Bill on Indonesian Export Financing Agency (LPEI) into Law on on Tuesday, Dec. 16. The new regulation was enacted in a new governmental attempt to boost exports for improving the nation's competitive power.
Head of Special Committee for Draft Bill on LPEI, Lili Asdjudiredja, said that the Draft Bill was prepared as the nation's strategic agenda in supporting the economy. Through LPEI, it is expected that source of finance, which has not been accessible through the banking sector, can now gain new access.
"Experience from other countries show that public banks cannot be relied on for all sectors," said Asdjudiredja. In this matter, the policy outlined in the Law on LPEI serves as the basis in creating a business climate that is conducive for all types of businesses.
In addition, the Law on LPEI is also aimed at accelerating national exports, improving production capacity and boosting development of export-oriented products.
In the plenary meeting, all factions agreed on passing the Draft Bill on LPEI into Law. For example, Reform Star Faction representative Zaenal Abidin Hussein said that LPEI is important but it should prioritize micro-, small- and medium-sized enterprises.
Meanwhile, Indonesian Democratic Party of Struggle Faction representative Hasto Kristiyanto said that the government does not have to be ashamed of recognizing agriculture, plantation and maritime sectors as those which control many people's needs.
"The government must side with the sectors in issuing policies concerning Law on LPEI," said Kristiyanto. The Indonesian Export Financing Agency (LPEI) is the implementation of article 33 of the 1945 Constitution. "LPEI is created to help finance, guarantee and insure all business sectors."
Meanwhile, Finance Minister Sri Mulyani Indrawati said the Agency is the government's representative. It is expected to help finance various transactions that have been difficult to finance through commercial projects.
"LPEI can provide financing for national exports through conventional methods or based sharia principle," said Mulyani.
According to her, the sharia principle can be implemented because the Indonesians have recognized the matter.
Through the business activity, said Mulyani, it is expected that LPEI may contribute optimally in economic development.
Translated by: Bonardo Maulana Wahono
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