TEMPO.CO, Jakarta - President Joko "Jokowi" Widodo has finally signed the Presidential Decree and the Government Regulation on Crude Palm Oil Supporting Fund (CFS).
"The Presidential Decree and the Government Regulation had been signed by the president yesterday," Coordinating Economic Minister Sofyan Djalil said on Wednesday, May 6, 2015.
According to Sofyan, the government will immediately form a public service body (BLU) to manage the fund. However, officials selected to fill the positions at the new BLU will have to be approved by the State Apparatus Empowerment and Bureaucratic Reform Minister.
"The BLU will be formed as early as next week, and the [CFS] collection is expected to start before the end of May," Sofyan added.
Officials of the BLU will comprise of several state officials, including the Finance Minister, the Energy and Mineral Resources Minister, the Trade Minister, the Agrarian Minister and three others from the CPO industry. In order to enforce transparency, the BLU as the manager of the CPO Fund will be audited by both public accountants and the Supreme Audit Agency (BPK).