The government is considered to need to extend the debt restructuring period for business actors in the textile and textile product (TPT) industry which has the potential to suffer losses in the second half of 2022. Director of the Center of Economic and Law Studies (Celios) Bhima Yudhistira said the government should give special relief to the textile industry to extend the debt restructuring period. "If possible, textiles get special preference for extending debt restructuring until 2025," he said, Sunday (21/8/2022).

According to him, an extension of the restructuring period with a duration of up to 2025 can be given to companies that are still in the recovery process due to the impact of the Covid-19 pandemic.

Chairman of the Indonesian Filament Yarn and Fiber Association (APSyFI) Redma Gita Wirawasta said 40 percent of orders in the export market disappeared due to inflation in the US and Europe.

A month ago, the number of orders for new garment products decreased by 15 percent under normal conditions.

"And it will be worse if the problem in Taiwan is prolonged. Because there is the main ship transportation route [north route]. Including US ships," said Redma.