AIRLINK 76.15 Increased By ▲ 1.75 (2.35%)
BOP 4.86 Decreased By ▼ -0.09 (-1.82%)
CNERGY 4.31 Decreased By ▼ -0.03 (-0.69%)
DFML 46.65 Increased By ▲ 1.92 (4.29%)
DGKC 89.25 Increased By ▲ 1.98 (2.27%)
FCCL 23.48 Increased By ▲ 0.58 (2.53%)
FFBL 33.36 Increased By ▲ 1.71 (5.4%)
FFL 9.35 Decreased By ▼ -0.01 (-0.11%)
GGL 10.10 No Change ▼ 0.00 (0%)
HASCOL 6.66 Decreased By ▼ -0.11 (-1.62%)
HBL 113.77 Increased By ▲ 0.17 (0.15%)
HUBC 143.90 Increased By ▲ 3.75 (2.68%)
HUMNL 11.85 Decreased By ▼ -0.06 (-0.5%)
KEL 4.99 Increased By ▲ 0.12 (2.46%)
KOSM 4.40 No Change ▼ 0.00 (0%)
MLCF 38.50 Increased By ▲ 0.10 (0.26%)
OGDC 133.70 Increased By ▲ 0.90 (0.68%)
PAEL 25.39 Increased By ▲ 0.94 (3.84%)
PIBTL 6.75 Increased By ▲ 0.22 (3.37%)
PPL 120.01 Increased By ▲ 0.37 (0.31%)
PRL 26.16 Increased By ▲ 0.28 (1.08%)
PTC 13.89 Increased By ▲ 0.14 (1.02%)
SEARL 57.50 Increased By ▲ 0.25 (0.44%)
SNGP 66.30 Decreased By ▼ -0.10 (-0.15%)
SSGC 10.10 Decreased By ▼ -0.05 (-0.49%)
TELE 8.10 Increased By ▲ 0.15 (1.89%)
TPLP 10.61 Decreased By ▼ -0.03 (-0.28%)
TRG 62.80 Increased By ▲ 1.14 (1.85%)
UNITY 26.95 Increased By ▲ 0.32 (1.2%)
WTL 1.34 Decreased By ▼ -0.02 (-1.47%)
BR100 7,957 Increased By 122.2 (1.56%)
BR30 25,700 Increased By 369.8 (1.46%)
KSE100 75,878 Increased By 1000.4 (1.34%)
KSE30 24,343 Increased By 355.2 (1.48%)

Indonesia's president has signed a moratorium on all new palm oil plantation development, an official said Thursday, in a move hailed by environmentalists. The moratorium effectively halts any new land being made available for plantations in the world's top producer of the edible vegetable oil, a key ingredient in many everyday goods, from biscuits to shampoo and make-up.
President Joko Widodo signed the instruction, which will last three years, on Wednesday, Prabianto Mukti Wibowo, a deputy minister at the Coordinating Ministry for Economic Affairs, told AFP. "(The moratorium) is to improve the governance of sustainable palm oil plantations, provide legal certainty, increase the productivity of smallholder palm oil plantations, maintain environmental sustainability and contribute to the reduction in greenhouse gases," he told AFP in a WhatsApp message.
Plantations on Sumatra island, Papua and the Indonesian part of Borneo have expanded in recent years as demand for palm oil has skyrocketed, bringing huge profits to companies and healthy tax revenues to the government. But the rapid growth has been blamed for the destruction of tropical forests that are home to many endangered species, and forest fires that occur every year during the dry season due to illegal slash-and-burn clearance.
The Indonesian Forum for the Environment, Walhi, welcomed the moratorium. "The presidential instruction is a good first step in restructuring natural resource management, especially in the palm oil sector," it said in a statement, adding ideally it would be in place for 25 years. The moratorium was first proposed in 2015, following devastating blazes that cloaked large stretches of Southeast Asia in toxic smog for weeks.
A moratorium on conversions of new peat lands was established in 2011 to improve management and reduce fires, but campaigners say this is sometimes ignored when local governments grant concessions. Poor spatial data and overlapping forestry maps are a major hindrance for authorities trying to enforce regulations governing them.
In 2015, the government banned new development on all peat lands after swathes of carbon-rich peat were drained for use as plantations in recent years, creating highly flammable areas.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.