Draft Green Cars Regulation Still Under Process

Jakarta, Dec 18 (ANTARA) - The draft regulation on the production of low-cost green cars (LCGC) is still under deliberations before it could be endorsed into a government regulation, a minister said. Industry Minister MS Hidayat in a year-end conference on Monday told the press that his ministry had met all technical and other requirements for the endorsement of the draft regulation. He said that the ministry of industry as the initiator of the LCGC policy had previously expected that draft regulation would have been approved before the end of this year. The LCGC policy proposal was submitted to the ministry of finance as the institution which had the right to decide the tax incentives for the production of the green cars. "Last Saturday, I met with Finance Minister Agus Martowardojo. He said that the proposal was still within time frame but he admitted he could not guarantee when the finance ministry would issue the policy," Hidayat said. Hidayat said that he was told by the finance minister about the LCGC policy which was in the form of a government regulation that it had been in the process and was to be sent to the President`s office.