Indonesia'S Budget For Upgrading Textile Machinery And Upgrading Industries

Indonesia's Ministry of industry has announced that it will reduce budget funds allocated to the machinery upgrading plan aimed at improving textiles, leather and

Competitive power.

The Ministry of industry is responsible for

Ramon Bangun, a miscellaneous leader, said that the Ministry of industry cut its planned budget funds from last year's 152 billion 500 million Indonesian shield to 4.6% to 145 billion 500 million rupiah.

The reasons for budget allocation are reduced. Budget efficiency must be balanced and fuel prices will rise later.

He said that the 34 billion rupiah, equivalent to 23.37% of the total budget of the Ministry of industry, was used to update the aging machine, and it was distributed to 32 companies by May 2012.

He added that the Ministry of industry initially approved assistance to 100 companies, but so far only 32 companies have been funded.

He said that the Ministry of textiles has evaluated 18 other companies for this plan, and this year's plan requires 173 companies to benefit from it.

The purpose of the plan is to revitalize the industry and attract private investment.

The machinery upgrading plan was launched in 2007, and the leather and footwear industry is planned to be launched in 2009.

According to the data of the Ministry of industry in 2011, there are about 4 million spinning spindles, 34000 knitting machines and 200000 weaving machines in Indonesia, which have been used for more than 20 years.