Coal Skyrockets, State Revenue Breaks 1 Decade Record!

Jakarta, CNBC Indonesia Coal commodity prices are currently skyrocketing. Although in the last two days it has fallen, the price is still above US$ 200 per ton. In trading on the ICE Newcastle (Australia) market yesterday, Thursday (07/10/2021), the price of coal was still above US$ 200 per ton, which was US$ 224.90 per tonne, although it fell compared to the previous two days, which reached the previous two days. peaked at US$ 280 per ton.

As a result of this price increase, Non-Tax State Revenue (PNBP) in the mineral and coal mining sector (minerba) has also skyrocketed, even hitting a record high in a decade.

Based on Minerba One Data Indonesia (MODI) data from the Ministry of Energy and Mineral Resources (ESDM), quoted Friday (08/10/2021), PNBP for the mineral and coal sector has reached Rp 49.84 trillion or 127.45 percent of this year’s target of Rp. IDR 39.10 trillion.

The amount of revenue has even exceeded the highest revenue achievement in 2018 which touched IDR 49.63 trillion.

The Director of Mineral and Coal Revenue of the Directorate General of Mineral and Coal (Ditjen Minerba) of the Ministry of Energy and Mineral Resources had said that this year’s state revenue is estimated to exceed Rp 50 trillion. The revenue from the coal sector alone reaches 75-80% of the total mineral and coal revenue.

“There is a possibility the same as in 2018 or even slightly higher,” he told CNBC Indonesia some time ago.

INDEF economist Abra Talattov also estimates that PNBP from the mineral and coal sector may reach more than Rp 50 trillion by the end of the year. According to him, state revenue will depend on price fluctuations.

“This increase in coal in the realization of PNBP is given, just waiting to see how far the price fluctuations are,” he told CNBC Indonesia, Thursday (07/10/2021).

He said that currently the price of coal is above normal conditions, thus making entrepreneurs gain much higher profits than expected. With this condition, he suggested that the government consider making policy adjustments, both related to adjustment of contributions or royalties for PNBP and also the imposition of extra taxes such as windfall profit tax.

“So that the government can get the maximum amount of PNBP, not only waiting for the percentage increase in prices that have been regulated in the PP, both royalties, there will be a share of the government and the land lease for IUPK, perhaps the government should consider adjustments,” he explained.

Quoting from MODI, Friday (08/10/2021), PNBP for the Minerba sector in the last ten years is as follows:

In 2012 amounted to Rp 24.01 trillion
In 2013 amounted to IDR 28.1 trillion
2014 amounted to Rp 35.47 trillion
In 2015 amounted to Rp 29.63 trillion
2016 amounted to IDR 27.15 trillion
In 2017 of IDR 40.62 trillion
In 2018 of IDR 49.63 trillion
In 2019, Rp 44.92 trillion
In 2020, IDR 34.65 trillion
In 2021, it is IDR 49.84 trillion (as of October 8, 2021).

[Gambas:Video CNBC]

(wia / wia)



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