When can we resume business?<\/p>\n
By Steve Sondakh<\/p>\n
JAKARTA (JP): With Indonesia now in the fourth year of its
\nmultidimensional crisis, we feel more helpless than ever. To make
\nmatters worse, we have no way of knowing when we can work, carry
\nout political activities and lead our lives without being jolted
\nby rumors, rallies, the declining exchange rate of the rupiah and
\na host of other problems.<\/p>\n
Uncertainty shadows us because of the following:
\n (1) Uncertainty in the enforcement of the law. Tommy Soeharto's
\nwhereabouts are unknown. How can he be arrested and jailed?
\n (2) Labor issues are still a hot topic, as Ministerial Decree No.
\n150\/2000 on dismissals and severance pay has not yet been
\nrevised.
\n (3) Regional autonomy and decentralization is far from being
\ncompletely ready, but is set to be enacted on Jan. 1, 2001.
\n (4) Four of the nation's top banks have fallen victim to Bank
\nLiquidity Support loans.<\/p>\n
The crux of the matter is whether we still have the luxury of
\ndelaying solutions, given the price we will all have to pay.<\/p>\n
Our currency has continued to slide to a level where there is
\nno longer any psychological barriers. It is now approaching Rp
\n10,000 to the US dollar and it is possible that in January 2001
\nit will be above Rp 10,000.<\/p>\n
A number of positive economic indicators are powerless against
\nthe negative market sentiment, reflected in the impotence of the
\nrupiah.<\/p>\n
The loss of confidence in the rupiah was made plain in a
\nsurvey of housewives, who said they preferred to own U.S.
\ndollars.<\/p>\n
A friend jokingly said the rupiah should be renamed the
\nTitanic, to reflect its one-way trip to the bottom of the sea!<\/p>\n
Where will we be and where will we be heading if this
\nuncertainty drags on?<\/p>\n
Now that we seem to have become insensitive to this protracted
\ncrisis, is it is likely we are in for a second crisis. If this
\nnew crisis occurs, will it be possible for us to remain afloat?<\/p>\n
The longer we ponder these matters, the more we feel that the
\nanswers to these questions are becoming blurred. Everything seems
\nvague, hazy and confusing. Or, returning to square one,
\nuncertain.<\/p>\n
We are reminded here of the words of Karen Hor, who said: \"We
\nmay feel genuinely concerned about the condition of the world,
\nthough such concern should drive us into action and not into
\ndepression.\"<\/p>\n
The writer is a member of the National Economic Restoration
\nCommittee and director of PT Hero Supermarket Tbk.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/when-can-we-resume-business-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}