Finance minister's controversial decree<\/p>\n
From Bisnis Indonesia<\/p>\n
By the end of his office, the Minister of Finance issued a
\ndecree that will surely make certain public circles delighted.
\nAccording to the minister, it was meant to assist the
\neconomically weak community.<\/p>\n
The decree allows up to 50 percent of principal debt reduction
\nbesides exemption from loan interest and interest on fines,
\nparticularly for the purpose of invigorating the sector of small-
\nand medium-scale businesses (UKM).<\/p>\n
However, laymen will question why the decision is
\nretroactively effective, seemingly meant to justify previous
\npolicies. Even a small debtor cannot easily get a repayment
\nperiod extension from a state bank, let alone such a haircut.<\/p>\n
The other question arises whether the target of assistance is
\ntruely the UKM community or the group of conglomerates, in view
\nof the fact that only a very small number of UKM units receive
\nbank loans worth billions of rupiah.<\/p>\n
Therefore, everything in this case should be transparent so as
\nnot to make the rescue of UKM an excuse for the decision, only to
\ninflict considerable loss to the state treasury.<\/p>\n
TAUFIK KARMADI
\nJakarta<\/p>",
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