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Stake Holder : Textile Industry Needs Fundamental Changes

The Ministry of Finance (Kemenkeu) noted that the performance of the textile and manufacturing industry in the country strengthened throughout the third quarter of 2022 amid the issue of Termination of Employment (PHK) in this industrial sector. Acting Head of the Center for Macroeconomic Policy at the Fiscal Policy Agency (BKF) of the Ministry of Finance, Abdurohman, explained that the export growth of textile products was still very high until the third quarter of 2022. Exports of apparel and clothing accessories (HS61) grew 19.4 percent, non-knitted clothing and accessories (HS62) grew 37.5 percent, and footwear (HS64) grew 41.1 percent as of September 2022.

The Confederation of Archipelago Trade Unions (KSPN) stated that its members working in the textile and garment industry who were laid off cannot claim Job Loss Guarantee or JKP due to membership status. KSPN President Ristadi said that not all of its members were registered in all BPJS Employment programs as a condition for receiving the Job Loss Guarantee (JKP). “None of our members can because they have not joined the [JP] pension insurance, and there are even arrears in contributions. So to get JKP, in addition to participating in the full BPJS program, the contributions are also smooth," he explained, Friday (11/4/2022).


Minister of Finance (Menkeu) Sri Mulyani Indrawati together with other Ministries/Institutions (K/L) will continue to monitor the massive layoffs in the textile garment industry and its impact on the economy. "We will monitor the phenomenon of layoffs specifically together with other K/L," said Minister of Finance Sri Mulyani at a press conference in Jakarta, Thursday. Sri Mulyani said monitoring of the issue would be carried out because the textile sector was actually still showing significant growth, even contributing to export performance.

Shares of PT Pan Brothers Tbk (PBRX) are again entrenched in leading the ranks of top gainers, while shares of PT Panin Financial Tbk (PNLF) led the ranks of top losers in the first trading session this afternoon, Friday (4/11/2022) amid the weakening of the benchmark index. Homeland. The Composite Stock Price Index (JCI) closed down 0.76%, or 53.64 points, to 6,980.94 at the close of trading session I, market participants were worried after the United States central bank (The Fed) indicated that interest rates could be higher which would lead to higher interest rates. triggering a recession made market sentiment worse.


The composite stock price index or JCI remained in the green zone until the end of the second session on Thursday, November 3, 2022. The index edged up 0.26 percent at the level of 7,034.5 or higher than yesterday's closing figure of 7,015.6. "At the end of today's trading session, as many as 248 stocks rose, while 280 weakened, and 164 were stagnant, with a transaction value of Rp. 12.2 trillion, a trading frequency of 1.14 million times and a trading volume of 212.9 million lots," he said. PT Samuel Sekuritas Indonesia analyst team on Thursday, November 3, 2022.