Indonesian sovereign wealth fund Danantara will handle oversight of natural resource exports from next year as part of the government’s efforts to curb revenue leakage of as much as US$150 billion a year.
Exports of natural resources such as nickel, iron ore, and oil and gas are currently done by individual companies.
“We estimate that potential leakages could amount to $150 billion per year,” Rosan Roeslani, chief executive officer of Danantara, said at a press conference on May 20. “So far, widespread under-invoicing and overpricing practices have clearly affected taxation, royalties, foreign exchange earnings, and even distorted trade overall in terms of data and reporting.”
Starting January 2027, the exports will have to go through state-owned enterprises.
A new Danantara unit called Danantara Sumberdaya Indonesia will establish a digital platform to monitor the shipments.
Rosan said the platform will allow Danantara to assess whether the declared value of exports reflects fair prices in line with global practices.
He said the platform is not designed to capture corporate margins, but to bolster transparency in commodity trading.
