The Ministry of Industry (Kemenperin) has again rolled out an incentive program to cut the price of machinery for the Textile Industry and Textile Products (TPT). The stimulus is intended to increase the competitiveness and productivity of the industry. “This incentive is a stimulus for companies to use machines and equipment that are more modern, efficient, energy efficient and more environmentally friendly. To date, there are ten companies that have been approved to take advantage of this program through the Agreement on the Provision of Discounted Reimbursements (P4H)," said the Director of the Textile, Leather and Footwear Industry at the Ministry of Industry, Elis Masitoh in Jakarta, yesterday.

In 2022, the Ministry of Industry's budget for providing engine price discounts is IDR 5 billion. Until June 27, 2022, his party has approved discounts for 10 companies that have stimulated investment in new machinery from the industry amounting to Rp53.9 billion.

The total price discount given is Rp. 3.07 billion, so that there is still a budget of Rp. 1.93 billion which is planned to be realized in July 2022.

Elis said the 10 companies receiving this program had been verified by the Program Operational Management Agency (LPOP), business feasibility verification, reasonable price of machinery/equipment, reasonableness of the chronology of purchase and payment documents and field verification by the Independent Appraisal Agency (LPI).

Then discussed the Technical Team Meetings (RTT) I and II which were attended by members of the technical team from various Ministries/Institutions, the Regional Industry Service, representatives of associations and experts in the textile sector.

He added that his party would continue the machine restructuring program in 2023 with a budget allocation of IDR 7 billion.

"I hope this program can be a positive signal for investment in machinery or equipment in order to increase productivity and industrial competitiveness. Hopefully companies that receive incentives in this program can continue to survive in global competition and the textile industry will be more victorious," he said