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FREEPORT : NEGATIVE CASH FLOW IN QUARTER I/2014 IS NOT SUFFICIENT TO PAY DIVIDEND

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A location f Freeport's mining area (Jubi)

A location f Freeport’s mining area (Jubi)

Jayapura, 18/4 (Jubi) – The Government of Indonesia continues pursuing PT Freeport Indonesia to pay the overdue dividend while the company reportedly acknowledged their business profit has not been sufficient to pay such a debt.

“I knew Freeport had 6 trillion profit, that’s why we keep asking them to pay,” said the Minister of Mineral Resources Dahlan Iskan after the meeting at Re-Indo Office in Jakarta on Thurday (17/4) as reported in merdeka.com.

He further admitted PT Freeport Indonesia based on the Shareholders General Meeting decided not paying dividend to the government because the government only holds 9.3% of total shares.
“The Shareholders General Meeting decided not paying dividend to the government, but the State Company didn’t agree. However, they still kept saying they couldn’t pay because they need to cover other expenditures. The voting was conducted then, and the result is not to pay. 9.3 % is meaningless, therefore we are struggling for it,” the Minister said.

But last year’s financial statement was showing the PT Freeport to benefit through the increased sales volume of gold and copper to 6.4 % or USD 4.34 billion of previous USD 4.09 billion. This fact has made the Ministry of Mineral Resources pursuing dividend; the government will ask the interim dividend.

The Vice President Corporate Communication of PTFI, Daisy Primayanti said to tabloidjubi.com the company was not able to pay dividend to the company’s shareholders including the shareholders of parent company and the Government of Indonesia partly because of the interruption of the operations that was occurred for almost two months.
“Due to the interruption of the operations, the sales volume of cooper and gold were reduced. The drop of global commodity price in 2013 also affected the company,” she said by phone (18/4).

She further said PTFI is currently using its cash flow to maintain its current productivities and large investment of Underground Mining.
“The company’s cash flow of Quarter 1/2014 is negative. It’s not sufficient to pay dividend,” she said.

Earlier, she said to Jubi that PTFI has used the cash flow to USD 1 Billion investment to develop the underground mining. The underground mining project has been planning for 2017 and would later become the basis of mining activities of PTFI.
“The underground mining project was estimated to spend about USD 15 billion during the remaining mine life,” she said. (Jubi/Victor Mambor/rom)

Economy

Migration is a factor of increasing poverty in Papua

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Indigenous Papuans. – Jubi / Doc

Jayapura, Jubi – Septer Manufandu, the former Executive Secretary of Non-Governmental Organization Working Forum of Papua (FOKER LSM Papua), stated stakeholders in Papua need to the right solution to strict the flow of migration into Papua.

So far, he said that Papua is an open region and anyone is free to come to Papua without strict control. Therefore he urges the authority to establish a proper mechanism to control the migration, but respect everyone’s right at the same time.

“In the Special Regulation about Population, it does not prohibit people outside of Papua to enter Papua, but rather to control it. So migrants must have a clear purpose coming to Papua,” Manufandu told Jubi on Friday (9/9/2018).

Meanwhile, a Papua Parliament Member Mustakim said a factor that causes the increase in the percentage of poverty in Papua is the rapid influx of migrants.

“No matter how hard the government tried to reduce the poverty rate in Papua, it becomes difficult to work as people from the outside continue to come,” said Mustakim.

Furthermore, he said a proper solution to regulate the influx of population in Papua is the government should stipulate the provincial regulation (Perdasi) or special regional regulation (Perdasus) on migration. (*)

 

Reporter: Arjuna Pademme

Editor: Pipit Maizier

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Economy

Enembe plans to review autonomy funds distribution

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Papua Governor Lukas Enembe stood in front of the Ministry of Internal Affairs Office. – Jubi / Alex

Jakarta, Jubi – Governor Lukas Enembe said he would evaluate the distributions of Special Autonomy funds allocated for districts and municipality in Papua. Before, the 80 per cent of funds were allocated for districts and municipality, while the remaining 20 per cent was for the provincial government.

“We will recalculate the distribution of autonomy funds and implement what it has been best decided,” the governor told reporters on Wednesday (5/9/2018) in Jakarta.

Regarding the number of funds allocated, he said the provincial government could not yet determine the portions for each district and municipality because it would decide through a thorough study.

“We shouldn’t talk irresponsibly, because it needs the more in-depth study to decide. The distribution of the autonomy funds must not cause problems in the future, and it should be agreed by all regional governments,” he said.

Moreover, the governor said the Papua Provincial Government need to allocate a large portion of its provincial budget for the realization of the National Sports Event 2020. In addition, the handover of high school management from the regional governments to the provincial government also need a lot of funds. (*)

Reporter: Alex Loen

Editor: Pipit Maizier

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Economy

Bali, Papua and West Papua become a pilot project for drafting regulations on communal land

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Jayapura Regent Mathius Awoitauw photographed among regional leaders and speaker of the Ministry of Agrarian Affairs. – Jubi / Engel Wally

Bali, Jubi – The Ministry of Agrarian Affairs of the Republic of Indonesia launched the Government Regulation on Customary Land on 3-5 September in 2018 in Bali. Three provinces, Bali, Papua and West Papua, are set to become the pilot project of the regulation.

Jayapura Regent Mathius Awoitauw, who also attended the event, said they temporarily hold the conclusion of seminar due to a necessity to formulate a draft regulation regarding the regional customary lands.

Moreover, he said the regulation should be made upon the consultation with the customary landowners themselves.

Both provinces, Papua and West Papua, do not acknowledge the terminology of the land of state but the customary land which is owned by indigenous peoples,” explained the Regent at Jimbaran Perkanti Stadium, Bali, after giving his support to Kenambai Umbai team who competed in Menpora National Series Cup on Wednesday (5/9 / 2018)

Meanwhile, the Coordinator of Jayapura Regional Customary Council (DAS) Daniel Toto said the landowners must be involved in establishing the regulation on the customary land.

It would be a crucial issue if the local government does not involve the customary landowners in drafting a regulation on communal land. Therefore, I agreed with Jayapura Regent who proposed postpone until the consultation with the customary landowners in the respective regions,” he said. (*)

 

Reporter: Engel Wally

Editor: Pipit Maizier

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