Abolish free exchange system<\/p>\n
From Merdeka<\/p>\n
One-and-a-half years ago, apatriotic businesspeople -- most of
\nthem nonindigenous -- transferred more than US$100 billion in
\nforeign exchange to Singapore.<\/p>\n
This apatriotic economic measure was possible because of
\nIndonesia's free foreign exchange system. The result was that the
\nvalue of the dollar increased while that of the rupiah decreased
\ndrastically, the national economy became chaotic, unemployment
\nwas on the rise, the community's purchasing power declined and
\nthe poor members of the community got hungrier.<\/p>\n
Experience has shown that a free foreign exchange system is
\nsuitable in a really strong economic situation, supported by
\npatriotic entrepreneurs, like in Japan.<\/p>\n
Actually, Indonesia does not lack foreign exchange because
\nexports yield not less than $3 billion a month. But because the
\nNew Order has produced apatriotic businesspeople only, billions
\nof dollars from exports have been turned into foreign exchange
\nsavings abroad.<\/p>\n
It is odd that the government maintains this free foreign
\nexchange system, which only benefits apatriotic businesspeople.
\nAlthough Indonesia is the biggest palm oil producer, its people
\nlack cooking oil. Palm oil is exported in big quantities but the
\ngovernment is low on foreign exchange.<\/p>\n
In this economic and monetary situation, the Habibie
\ngovernment should be controlling foreign exchange. In doing so,
\nthe government could control foreign exchange earnings from
\nexports and fix the dollar rate at, say, Rp 10,000. Furthermore,
\nthe government should give priority to the use of foreign
\nexchange for imports that benefits development and the people's
\nwelfare.<\/p>\n
With this fixed exchange rate, the business sector can adjust
\nits activities according to the new, balanced situation.<\/p>\n
RACHMAT BASOEKI SOEROPRANOTO<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/abolish-free-exchange-system-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }