Bulog announces lower annual financial surplus<\/p>\n
JAKARTA (JP): The National Logistics Agency (Bulog) yesterday
\nannounced a financial surplus of Rp 13.6 billion (US$5.91
\nmillion) for the 1995\/1996 fiscal year, down from Rp 133 billion
\nin 1994\/1995.<\/p>\n
Bulog Chief Beddu Amang said despite the drop, Bulog was
\nbetter off than it was three years ago, when it suffered a Rp 115
\nbillion deficit in 1993\/1994.<\/p>\n
"The agency's accumulative surplus over the last three years
\nstands at around Rp 28 billion," Beddu told reporters after
\nreceiving a bill of clean (unqualified) opinion from the
\nDevelopment Finance Comptroller for the agency.<\/p>\n
Beddu said the drop in Bulog's surplus resulted from the
\nagency's market and buffer-stocking operations.<\/p>\n
"Bulog is a non-profit agency responsible for keeping the
\nstability of foodstuff prices," he said. "Our main job is
\nstabilization, not profit seeking."<\/p>\n
He said the finance comptroller audited not only the agency's
\nfinancial records but its market and buffer-stocking operations
\nas well.<\/p>\n
"On the one hand, it is safe to have large stocks. On the
\nother, it is very costly to store foodstuff," he said.<\/p>\n
Bulog was set up in 1967 to control the distribution of
\nseveral important commodities, assure food security and maintain
\nprice stability through market operations and buffer-stocking
\nmechanisms.<\/p>\n
The government has assigned the agency as the sole authority
\nto import and distribute rice and other agricultural commodities
\nsuch as sugar, wheat, corn and soybean.<\/p>\n
Beddu said yesterday Bulog was planning to open new warehouses
\nin remote areas to guarantee that food supplies reached people
\nthere. "President Soeharto gave us this instruction earlier this
\nmonth," he said.<\/p>\n
Beddu said Bulog would establish new warehouses in areas where
\nit had no warehouse access or where it rented warehouses from
\nstate-owned firms and private companies.<\/p>\n
In the first phase of the project, 36 warehouses would be
\nbuilt or rented in 14 provinces outside Java. Most of the
\nwarehouses would be in the eastern part of Indonesia, he said.<\/p>\n
The warehouses would have a capacity of 500 tons to 1,000 tons
\neach and would store essential commodities controlled by Bulog.
\nAn investment of Rp 20 billion, from Bulog's current surplus,
\nwould be used for the first phase which is expected to be
\ncompleted next year. According to Beddu, the project is already
\nunderway.<\/p>\n
Beddu said the warehouses were particularly important to civil
\nservants and members of the Armed Forces, many of whom must
\ntravel miles to Bulog warehouses for their monthly allocation of
\nrice.<\/p>\n
They have to pay travel expenses and carry the supplies on
\ntheir own. "Sometimes they bring only half of their allocated
\nrice home; the other half is spent on travel expenses," he said.<\/p>\n
Beddu said that apart from the Rp 20 billion used to build the
\nnew warehouses, Bulog would provide another Rp 5 billion each
\nyear to cover the costs of transporting commodities to the new
\nwarehouses. (pwn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bulog-announces-lower-annual-financial-surplus-1447893297",
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