{
    "success": true,
    "data": {
        "id": 1269147,
        "msgid": "strategic-projects-1447893297",
        "date": "2002-07-06 00:00:00",
        "title": "Strategic projects",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Strategic projects On July 3, President Megawati Soekarnoputri inaugurated 14 giant projects at the Kujang fertilizer plant in Cikampek, West Java. Totally worth US$9.3 billion, the projects were described as strategic. As all the projects were designed in the past, according to Economic Coordinating Minister Dorodjatun Kuntjoro-Jakti they are packed with corruption, collusion and nepotism. After renegotiation, the value of these projects could be reduced.",
        "content": "<p>Strategic projects<\/p>\n<p>On July 3, President Megawati Soekarnoputri inaugurated 14<br>\ngiant projects at the Kujang fertilizer plant in Cikampek, West<br>\nJava. Totally worth US$9.3 billion, the projects were described<br>\nas strategic.<\/p>\n<p>As all the projects were designed in the past, according to<br>\nEconomic Coordinating Minister Dorodjatun Kuntjoro-Jakti they are<br>\npacked with corruption, collusion and nepotism. After<br>\nrenegotiation, the value of these projects could be reduced.<br>\nLogically, they are now already in line with market prices. The<br>\ntruth will only be ascertained several years later, after they<br>\nare in operation and independent parties calculate their value in<br>\nreal terms. It might be that the projects were resumed following<br>\nbargaining between investors and those close to the authorities,<br>\nfor which the former had to make some payoffs.<\/p>\n<p>The government can perhaps deny this possibility because all<br>\nthe projects, as specified by Dorodjatun, are financed with loans<br>\nin export credits and investment credits.<\/p>\n<p>At a total cost of US$9.3 billion, equivalent to Rp 80<br>\ntrillion, the average value is Rp 5.7 trillion per project. Let's<br>\nhope the loans are disbursed according to plan. We are afraid the<br>\nloans are still in the form of commitments, with uncertain dates<br>\nof disbursement. The creditors would surely impose conditions<br>\nbefore making available their funds.<\/p>\n<p>Meanwhile, the government cannot even meet its short-term<br>\ncommitments. The East Flood Canal project in Jakarta has missed<br>\nits target. Its construction, scheduled to start on June 22,<br>\nfailed to materialize. In fact, the Rp 4 trillion project is very<br>\ncrucial for the control of floods, which in February almost<br>\ndrowned the capital. Economic recovery has therefore still a long<br>\nway to go. It is not just a matter of 14 giant projects.<\/p>\n<p>-- Neraca, Jakarta<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/strategic-projects-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}