Home / Knowledge / News / Textiles / Govt to restrict power rate hike at 18%
Govt to restrict power rate hike at 18%
21
Jul '10
An Energy Minister recently stated that, the government, moved by strong criticisms from the side of industry circles, has agreed to restrict the hike proposed by it in the rates of electricity to 18 percent.

Energy and Mineral Resources Minister, Darwin Zahedy Saleh, while speaking before the House of Representatives Commission VII, an authority supervising the energy and mineral resources, informed that, the raise would be maximum to the extent of 18 percent for industries, while the raise on an average would be somewhere around 10-15 percent.

The Ministry on July 1 came out with a ministerial directive specifying the new rates for electricity. Government in previous consultation with the House and the business community asserted that, the rates would at the most be hiked by 18 percent and that the average would be maintained at 10 percent.

Nevertheless, the regulation later, was strongly criticised by a number of business groups who contended that, the raise actually was much on the higher side than that assured by the government.

Indonesian Employers Association (Apindo) Chairman, Sofjan Wanandi, who was also present at the consultation at the House, said that, as per their computations the actual rise in rates ranged somewhere around 39 to 101 percent.

In the meantime, at some other room of the House, 32 business organizations moved the House Commission VI supervising the trade, industry and investment, with their demands to shelve the regulation.

Ade Sudrajat, Deputy Chairman of the Indonesian Textile Association said that, the recent hike in power rates would hike the prices of Indonesian textiles by around 7.2 percent. He continued by saying that, this would render the domestic products in-competitive in their own country as the price hike is not going to have an impact on imported goods.

According to Silmi Karim, Deputy Chairman of the Indonesian Young Entrepreneurs Association (Hipmi), such raise would beget higher inflation rate compelling the Bank Indonesia to hike its standard rate of interest.

This construes that, the capital cost for businesses will go up and this won't be favourable news for small and medium enterprises, constituting around 95 percent of Hipmi's member list.

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 24th Aug 2017

US, Mexico, Canada committed to updating NAFTA

The Unites States, Mexico and Canada have asserted their commitment...

Courtesy: Walmart

Apparel/Garments | On 24th Aug 2017

Walmart partners Google for voice shopping

US based multinational retailer Walmart has entered into a...

Textiles | On 24th Aug 2017

Pakistan's textile exports increase 2.78% in July 2017

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search