The performance of Indonesia's Olefins, Aromatics, and Plastics Industry has shown impressive growth in early 2023, driven by the government's policy of setting the Specific Natural Gas Price (HGBT) at US$6/MMBTU. According to Suhat Miyarso, Chairman of the Indonesian Olefins, Aromatics, and Plastics Industry Association (INAPLAS), the HGBT policy has strengthened the domestic industry, resulting in increased production utilization, higher sales to both domestic and export markets, and significant tax revenues and dividends. INAPLAS has also created employment opportunities for thousands of people and continued to invest in the petrochemical industry with a total investment value of US$18 billion or Rp270 trillion, aiming to double the national petrochemical capacity. However, challenges from imported goods, raw materials, and geopolitical impacts from the Russia-Ukraine war still pose obstacles to the industry's full recovery.

Suhat emphasized the importance of maintaining the HGBT policy to sustain the competitiveness of the Petrochemical Industry amid challenges, while noting that the industry is not fully recovered yet. Despite the impressive growth, the ongoing challenges from imported goods, raw materials, and geopolitical impacts from the Russia-Ukraine war still pose obstacles to the industry's full recovery. However, INAPLAS remains committed to investing in the petrochemical industry and aims to double the national petrochemical capacity to 16,000 KTA. Suhat emphasized the importance of maintaining the HGBT policy to sustain the competitiveness of the industry and urged for continued support from the government.

Source:
https://infobanknews.com/kinerja-industri-olefin-aromatik-dan-plastik-indonesia-tumbuh-impresif/amp/