Govt Eyes Implementation of B40 Biofuel in July 2021

Translator

Dewi Elvia Muthiariny

Editor

Markus Wisnu Murti

Senin, 24 Februari 2020 16:38 WIB

Coordinating Economic Minister Airlangga Hartarto. TEMPO/Fajar Pebrianto

TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto said the government was determined to implement the 40-percent biofuel or the B40 program no later than July 2021. At present, the government was finalizing a specially-designed roadmap.

“We hope the BPPT (Agency for the Assessment and Application of Technology) can immediately kick off the trial run so the program can be implemented by July 2021,” said Airlangga at the BPPT office on Monday, February 24.

The program of the diesel fuel mixed with 40 percent palm oil was initiated to curb the trade balance deficit. Referring to the Central Statistics Agency's (BPS) data, the deficit reached US$864 million, which was attributable to the decrease in exports by 7.16 percent.

Apart from preparing the B40 program, the government set a mandatory use of B30 in a bid to minimize the import dependency. This was forecasted to absorb up to 10 million kiloliters of crude palm oil (CPO). If it succeeds, the CPO-based downstream industry is believed to save at least US$8 billion in foreign exchange.

In the long run, the government planned to implement the B100 program yet it required technology transfers from developed countries, Airlangga concluded.

FRANCISCA CHRISTY ROSANA

Related News

Bappenas Lauds Jokowi for Indonesia's Stable Economy at About 5 Percent

19 jam lalu

Bappenas Lauds Jokowi for Indonesia's Stable Economy at About 5 Percent

Bappenas Head Suharso Monoarfa lauded President Jokowi's government as the country's economic growth was stable during his tenure.

Read More

Indonesia Says Steady Economy Can Support EV Development in the Country

2 hari lalu

Indonesia Says Steady Economy Can Support EV Development in the Country

Indonesia's success in maintaining economic resilience has enabled the country so potentially to develop its electric vehicle (EV) industry.

Read More

Energy Ministry Raises Biofuel Prices in May

5 hari lalu

Energy Ministry Raises Biofuel Prices in May

The Ministry of Energy and Mineral Resources (ESDM) has set the market index price for biofuel, particularly biodiesel, at Rp12,453 per liter.

Read More

Airlangga Hartarto Guarantees Business Stability for UK Companies in Indonesia

5 hari lalu

Airlangga Hartarto Guarantees Business Stability for UK Companies in Indonesia

MInister Airlangga Hartarto, promotes Indonesia's Special Economic Zones to British investors, assuring them of business certainty in Indonesia.

Read More

Economists Warn of Large Coalition in Prabowo-Gibran's Cabinet

5 hari lalu

Economists Warn of Large Coalition in Prabowo-Gibran's Cabinet

Several experts discussed input for Prabowo-Gibran in forming their cabinet.

Read More

A Domestic Recipe for the Middle East Conflict

6 hari lalu

A Domestic Recipe for the Middle East Conflict

The Middle East conflicts will harm the Indonesian economy. The solution is to improve the domestic economy.

Read More

Canada's Economy Misses February Growth Forecasts; Q1 GDP Seen Up 2.5%

7 hari lalu

Canada's Economy Misses February Growth Forecasts; Q1 GDP Seen Up 2.5%

Statistics Canada said GDP was likely unchanged from February.

Read More

Finance Minister Sri Mulyani Discusses Middle East Impact Mitigation with VP Ma'ruf Amin

7 hari lalu

Finance Minister Sri Mulyani Discusses Middle East Impact Mitigation with VP Ma'ruf Amin

Sri Mulyani said that geopolitical tensions in the Middle East became the focus of world leaders, which will have a significant economic impact.

Read More

Indonesia Faces Challenges in Job Creation, Minister Airlangga Says at World Economic Forum

8 hari lalu

Indonesia Faces Challenges in Job Creation, Minister Airlangga Says at World Economic Forum

Airlangga Hartarto stated that Indonesia faces difficult challenges in job creation.

Read More

Sri Mulyani Talks of Impact of Middle East Conflict on Indonesia

11 hari lalu

Sri Mulyani Talks of Impact of Middle East Conflict on Indonesia

Finance Minister Sri Mulyani said that geopolitical tensions in the Middle East are on the rise and have drawn the attention of global leaders.

Read More