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IDX: Endowment to buy Freeport shares

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PT Freeport Indonesia mining area in Mimika Regency, Papua – Jubi / IST

Jayapura, Jubi – Head of Indonesia Stock Exchange (IDX) Jayapura Representative, Aditya Kresna Yokwa, said that the intention of Papua Province and Mimika Regency Government to buy PT Freeport Indonesia (PTFI) shares could use lasting funds.

“I suggest that the local government use the existing endowment fund, which is already prepared to absorb Freeport shares,” he said, in Jayapura, Saturday (9/23/2017).

If the endowment is not sufficient, he proposed the Papua Provincial Government and Mimika Regency could issue bonds.

The local government can issue debt to the public that later money from the sale of bonds can buy shares in Freeport.

Aditya assessed that PTFI’s share purchase was not directly by the two local governments, but through Regional Owned Enterprises (BUMD).

If the local government wants to own part of Freeport’s shares, according to him, they have to go through those two processes (SOEs and BUMDs) as long as there is any remaining. This could be listing on BEI to be purchased by the public.

He also admitted that it cannot mention the exact figure about the value of PTFI shares. But he said that the number is quite large and reach trillions of rupiah.

“If we look from the evaluation, the price is quite high because of the latest info obtained from Freeport that it is assessing the stock valuation price per share, Freeport counts with reserves that have not been ‘explore’ or still stored in the womb of the earth,” said Aditya.

Regarding the request from both local governments for Jakarta to purchase PTFI shares and grant them to Papua government, he said that would be very difficult.

Therefore, he urged that from now on the local government immediately conduct fiscal calculations to be able to find the right solution to own PTFI shares. (*)

Source: Antara

Editor: Zely Ariane

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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