Mon, 07 Mar 2005

On the monorail

We would like to make a correction on the following statement that was printed in your newspaper on March 3 (page 8) under the heading Monorail firm demands city secure loans:

"... that the company demanded the city administration to honor its obligations stated in a contract ... including to cover any financial shortfalls and repay the company's debts to banks."

We have never stated that we asked the Jakarta administration to cover financial shortfalls and to repay the company's debts to banks as stated in your article.

We assume you must be aware that such a guarantee from the government is impossible.

What we meant during the interview was that we have asked for additional support from the Jakarta administration to help speed up the financing process by providing limited recourse, such as equity or a tariff subsidy in the initial years of operation.

The subsidy support we asked for is similar to the facility provided by the government to build the busway system .

Any requests are still under deliberation with the Jakarta administration and await independent review from the relevant authorities before approval.

Due to traffic congestion and the high cost of fuel, Jakarta desperately needs a safe and reliable public transportation system, such as the monorail. But, we can only deliver this solution with public support and the commitment of the central government and the City Council.

SUKMAWATY SYUKUR, Operational Director, PT Jakarta Monorail, Jakarta





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