Senin, Desember 12, 2022

Minister of Trade Sets Provisions on Implementation of Warehouse Receipt Subsidies

In an effort to implement the Warehouse Receipt Subsidy Scheme (Skema Subsidi Resi Gudang – "SSRG"), as mandated under Regulation of the Minister of Finance No. 187/PMK.05/2021 ("Regulation 187/2021"), the Minister of Trade ("Minister") has now introduced a number of provisions that address the implementation of the SSRG and the SSRG distribution mechanism through the issuance of Regulation No. 53 of 2022 ("Regulation 53/2022").
In essence, the SSRG will be used to fund productive businesses operating within the agricultural, marine, fisheries and forestry sectors, as well as small- and medium-scale enterprises without the need to deposit any additional collateral, aside from the relevant warehouse receipt. SSRG recipients comprise farmers (either individuals or members of business groups), cooperatives and actors from the abovementioned sectors (e.g. fishermen, salt farmers, utilizers of forest products and so forth.)
In order to participate in the SSRG, prospective participants must first have a warehouse receipt and fulfill the requirements set out under Regulation 187/2021. After fulfilling said requirements, prospective SSRG recipients should submit an SSRG application (individually, collectively or through the facilitation of cooperatives) along with various required documents to the SSRG distributor for subsequent verification and validation.
The SSRG may extend either conventional or sharia funding and may be distributed through the use of the direct and/or indirect distribution method. It should be noted that prior to engaging in any indirect SSRG distribution, the relevant SSRG distributor along with its linkage agency must first enter into a cooperation agreement that establishes the relevant distribution mechanism, as well the rights and obligations of the contracting parties.
Regulation 53/2022 has been in force since 2 December 2022.

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In an effort to implement the Warehouse Receipt Subsidy Scheme (Skema Subsidi Resi Gudang – "SSRG"), as mandated under Regulation of the Minister of Finance No. 187/PMK.05/2021 ("Regulation 187/2021"), the Minister of Trade ("Minister") has now introduced a number of provisions that address the implementation of the SSRG and the SSRG distribution mechanism through the issuance of Regulation No. 53 of 2022 ("Regulation 53/2022").
In essence, the SSRG will be used to fund productive businesses operating within the agricultural, marine, fisheries and forestry sectors, as well as small- and medium-scale enterprises without the need to deposit any additional collateral, aside from the relevant warehouse receipt. SSRG recipients comprise farmers (either individuals or members of business groups), cooperatives and actors from the abovementioned sectors (e.g. fishermen, salt farmers, utilizers of forest products and so forth.)
In order to participate in the SSRG, prospective participants must first have a warehouse receipt and fulfill the requirements set out under Regulation 187/2021. After fulfilling said requirements, prospective SSRG recipients should submit an SSRG application (individually, collectively or through the facilitation of cooperatives) along with various required documents to the SSRG distributor for subsequent verification and validation.
The SSRG may extend either conventional or sharia funding and may be distributed through the use of the direct and/or indirect distribution method. It should be noted that prior to engaging in any indirect SSRG distribution, the relevant SSRG distributor along with its linkage agency must first enter into a cooperation agreement that establishes the relevant distribution mechanism, as well the rights and obligations of the contracting parties.
Regulation 53/2022 has been in force since 2 December 2022.

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