Legislators hail funding for jet plane project<\/p>\n
JAKARTA (JP): Members of the House of Representatives praised
\nPresident Soeharto yesterday for initiating a novel way of
\nraising funds to finance the development of a Rp 2 billion jet
\nplane project without tapping the government's resources.<\/p>\n
B.N. Marbun, Moestahid Astari and Hamzah Haz said they all
\nsupported the President's move to finance the project by means of
\nestablishing a company which will raise the money from the
\npublic.<\/p>\n
The company PT Dua Satu Tiga Puluh (DSTP) was formally
\nincorporated last week and its formation was publicly announced
\non Monday with President Soeharto, in his personal capacity, as
\nits chief commissioner.<\/p>\n
It means Two One Thirty and is named after the N-2130, the
\n100-seater jet which is now being developed by PT IPTN, the
\nstate-owned aircraft manufacturer headed by State Minister of
\nResearch and Technology B.J. Habibie.<\/p>\n
Although he said he fully supported the financing plan, Marbun
\nof the Indonesian Democratic Party, questioned the legal basis
\nfor the President to head a private company.<\/p>\n
"There is no law that allows the head of state to head a
\nprivate company. If he leads a state-owned firm, it would be all
\nright," he told The Jakarta Post.<\/p>\n
But he quickly added that the idea is good, legitimate and
\nworthy of praise because the company is raising the money from
\nprivate sources.<\/p>\n
"Let's hope the state does not have to set aside any funds
\nfrom its budget for the project," he said.<\/p>\n
Minister\/Cabinet Secretary Saadilah Mursjid, who is the
\npresident director of PT DSTP, said on Monday that the company
\nhopes to issue shares to the public to raise the necessary funds.<\/p>\n
More than 20 tycoons have already pledged to buy some of the
\nshares in PT DSPT; the plane is expected to enter the world
\nmarket in the 2006.<\/p>\n
Priority<\/p>\n
Moestahid, the chairman of the dominant Golkar faction in the
\nHouse, told reporters on a separate occasion that the development
\nof high technology industries has become a priority for
\nIndonesia.<\/p>\n
"We have started developing high technology planes and we
\ncannot stop here. The nation has put its reputation at stake in
\nthis high cost project," he said.<\/p>\n
Moestahid said the government should ensure that no one
\nshould be coerced into buying the shares simply to meet the $2
\nbillion target.<\/p>\n
Hamzah Haz, chairman the United Development Party (PPP)
\nfaction in the House, said the public should support the scheme
\nbecause no state budget will be involved in the project.<\/p>\n
"Money from the state coffers can be used for something else.
\nIf the project succeeds, state-owned companies can buy IPTN
\naircraft, thereby saving foreign exchange," he said.<\/p>\n
According to Hamzah, the jet project will be an important step
\nfor Indonesia to reduce its dependence on foreign countries for
\nhigh technology industries.<\/p>\n
"We should not be dictated to by foreigners forever," he said.
\n(pan)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/legislators-hail-funding-for-jet-plane-project-1447893297",
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