Prabowo: PT DSI Generated $10.5 Billion in Foreign Exchange in Six Weeks

President Prabowo Subianto announced that PT Danantara Sumber Daya Indonesia (PT DSI), a state-owned enterprise established to manage natural resource exports and prevent state revenue leakage, has generated foreign exchange worth 10.5 billion US dollars in just six weeks since its full operation. The announcement was made during a cabinet meeting at the State Palace in Jakarta on Monday, July 20. PT DSI was announced on May 20, 2026, and began full operations on July 1, 2026. The company serves as a state instrument for recording export volumes, actual prices, and foreign exchange inflows from the sale of strategic commodities, including nickel, coal, gold, rubber, and palm oil. According to Prabowo, prior to PT DSI's operation, there was a significant discrepancy of at least 30 to 40 percent between commodity prices reported in Indonesia and their selling prices in the international market. He cited crude palm oil (CPO) as an example, where the export price from Indonesia ranged from IDR 14,000 to IDR 15,000 per kilogram, while the international market price could reach IDR 27,000, indicating that a substantial portion of the value was being unfairly captured. The President suspects that this price difference arises from manipulation during the trade journey, resulting in Indonesia losing much of the true value of its exported commodities. Since PT DSI began operating, this price gap has started to narrow. The government aims to fully implement a one-stop export system by September 1, 2026, with the preceding period dedicated to transition and adjustment for business actors. Prabowo emphasized that companies that continue to manipulate reports or fail to comply with the new governance will have their business licenses revoked. Source: VOI English