Government wants to resolve cooking oil compensation by October – Regulations

Domestic Trade Director General Isy Karim said on Monday that the ministry was preparing the payment process but assured that the issue would be resolved within four months.

“It will be before October. We will certainly get started on it as soon as possible. I don’t want to make any promises and it is in the middle of the process, still waiting for a meeting,” said Isy. Compass.com.

He went on to say that the ministry would pay compensation based on the audit results of state inspector PT Sucofindo.

However, Sucofindo said the government owes Rp474.8 billion ($29 million) to companies affected by the policy, but cooking oil producers have suggested the final amount could be higher.

Also read: Cooking oil makers lost ‘billions of rupees’ due to policy flip-flop: Association

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The Business Competition Supervisory Commission (KPPU) predicted last May that the government could owe companies about Rp 1.1 trillion, based on the accounts of hundreds of manufacturers and retailers.