High commodity prices may encourage fraud, Indonesian ministry warns

This aerial image shows a worker standing on the back of a truck loaded with coal at the Karya Citra Nusantara Marunda port in Jakarta on Jan 17, 2022, after Indonesia eased an export ban on the commodity. - AFP

JAKARTA (The Jakarta Post/Asia News Network): Finance Minister Sri Mulyani Indrawati has warned of fraudulent practices as businesses might seek to shirk some obligations to maximise their profits in response to surging mineral and coal prices.

Sri Mulyani, formerly a World Bank managing director, urged ministries and agencies to coordinate closely to minimise the potential for fraud, which could deprive the state of potential revenues to the tune of trillions of rupiah.