Jakarta (VNA) – Indonesia will temporarily remove import duties on selected plastic raw materials and liquefied petroleum gas (LPG) for the petrochemical sector from May, seeking to contain surging plastic prices.
As reported by Batam News Asia, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said on April 28 that import duties on certain plastic products and LPG used by the petrochemical industry will be cut to 0% for six months starting in May, after which the government will reassess market conditions before deciding whether to extend or adjust the measure.
The temporary duty waiver applies to materials used for plastic packaging such as polypropylene, LLDPE and high density polyethylene, which currently face import tariffs of about 5 to 15%, and will also cut the tariff on LPG imported by petrochemical firms from 5% to 0% to reduce feedstock costs.
By lowering input costs for plastic producers, the government hopes to dampen further increases in the prices of plastic and plastic packaged products and to ease pressure on manufacturers’ margins, while giving the industry breathing space to adjust to naphtha shortages and seek alternative supply arrangements./.
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