Fund delay may obstruct $10mn textiles export target
06 Feb '07
1 min read
A meeting was held yesterday between Minister for Industries Fahmi Idris and Benny Sutrisno, Chief of Indonesian Textile Association. Sutrisno informed the media that delay in disbursement of state funds for renovation of machinery could hinder Indonesian textile exports from achieving the 2007 target of US $10 billion.
Funds were already approved by the House of Representatives (DPR) and reserved for textile exports in the state budget. Steps for quick disbursement cannot be taken because of insufficient legal support.
Idris assured that his Ministry will make efforts to arrange talks between the association and Finance Ministry to solve the issue of slow disbursement.
Approximately four percent of overall local products in the country are manufactured by the textile sector.