Metrotvnews.com, Jakarta: The value of goods or inventory stored in Bonded Logistics Centers (PLB) over the past year has reached Rp1.16 trillion.

Finance Minister Sri Mulyani stated that this figure remains very small and needs to be developed.

"The number is still in its infancy. In my opinion, it still needs to be turned into a large figure. So don't celebrate yet," said Sri at the one-year anniversary event of Bonded Logistics Centers in the Merauke Room, DJBC Building, Rawamangun, Jakarta, Wednesday, April 12, 2017.

Nevertheless, Sri appreciated the 300% increase in PLB numbers. The Directorate General of Customs and Excise (DJBC) of the Ministry of Finance recorded growth from 12 companies to 34 PLBs spread across Indonesia.

"This user expansion can certainly be noted as a positive business sector response to PLB facilities," Sri explained.

Meanwhile, Director General of Customs and Excise Heru Pambudi said the number of suppliers utilizing PLBs continues to increase, including at least 20 international supplier companies, 34 international distribution companies, and 97 local distribution companies.

"From all of this, since the PLB's establishment one year ago, the value of goods currently stored in PLB warehouses is recorded at Rp1.16 trillion," he stated.

Heru added that current lead time to end-users has been reduced, averaging 1.8 days per year, significantly faster than conventional imports.

Import Duty (BM) from PLBs reached Rp10.28 billion, followed by Rp27.13 billion in Article 22 Income Tax on Imports, and Rp120.09 billion in Import VAT.

"PLB's role in revenue collection continues to be strengthened by improving PLB operators' competence in import procedures. Thus, PLBs contribute to state revenue," he elaborated.

PT Cipta Krida Bahari CEO Iman Sjafei announced they've relocated 40,000 square meters of warehouse space from Singapore to Indonesia, targeting 300,000 square meters by 2020.

Meanwhile, the leadership of PT Petrosea Tbk stated they've established PLB locations in Tanjung Batu Balikpapan and Marunda Jakarta, with further expansions planned for Surabaya and Sorong.

"Current utilization of Petrosea's PLB area has reached 116% of the initial target," he concluded.