{
    "success": true,
    "data": {
        "id": 1409708,
        "msgid": "foundations-funds-1447893297",
        "date": "1998-07-04 00:00:00",
        "title": "Foundations' funds",
        "author": null,
        "source": "",
        "tags": null,
        "topic": null,
        "summary": "Foundations' funds From Republika We were startled by a statement made by a former vice president, Sudharmono, that the funds of four foundations led by former president Soeharto, amounting to Rp 2.4 billion, were deemed too insignificant to hand over to the government. In the present critical economic situation, such a statement is, in my opinion, out of place, considering that life for Indonesians has become increasingly difficult.",
        "content": "<p>Foundations' funds<\/p>\n<p>From Republika<\/p>\n<p>We were startled by a statement made by a former vice<br>\npresident, Sudharmono, that the funds of four foundations led by<br>\nformer president Soeharto, amounting to Rp 2.4 billion, were<br>\ndeemed too insignificant to hand over to the government. In the<br>\npresent critical economic situation, such a statement is, in my<br>\nopinion, out of place, considering that life for Indonesians has<br>\nbecome increasingly difficult.<\/p>\n<p>As consumers, people of the middle and lower classes must<br>\nspend twice the amount for food staples compared to the time<br>\nbefore the crisis. Small and medium-scale businesses are under<br>\npressure due to lack of working capital as a result of price<br>\nincreases of raw materials, fuel and spare parts of their<br>\nproduction equipment, and purchases must be made in cash.<\/p>\n<p>Amid the ongoing crisis, in which officials and experts are<br>\ntoo absorbed in discussions and debates, bank loans have stopped.<br>\nIn other words, banks are semiparalyzed because they only receive<br>\nfunds but do not issue loans. This is because the government<br>\n(monetary authority) applies extra-high interest rates for Bank<br>\nIndonesia promissory notes (58 percent). Bank deposits have<br>\ninterest rates as high as 60 percent to 70 percent. If credit is<br>\ngiven, what would the interest rate be? It is not wrong to say<br>\nthat the business world is at a standstill. Businesspeople have<br>\nto cope with strangling interest rates.<\/p>\n<p>In these conditions, we think Rp 2.4 billion is a very<br>\nsignificant amount for the government, provided it is channeled<br>\nto push and to expand the activities of the people's economy<br>\nsector (small and medium-scale businesses). It should not be<br>\ngiven as grants but as loans (micro, small and medium), giving<br>\npriority to productive businesses, especially those which yield<br>\nexport commodities, import substitutes and domestic primary need<br>\nproducts.<\/p>\n<p>The statement that the amount is of no consequence is not<br>\nright. It is very valuable for those who need funds.<\/p>\n<p>SAIDI MALIK<\/p>\n<p>Surabaya, East Java<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/foundations-funds-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}