E. Java pawn business booming

E. Java pawn business booming

JEMBER, East Java (JP): Local pawn offices here have been
allocated an additional Rp 2 billion (US$210,526) to anticipate a
jump in the number of people pawning their belongings to raise
money for the holiday season.

"For the upcoming three big holidays, Christmas, Idul Fitri
and the New Year, people will, of course, need cash," said the
head of the distribution section of the state-run pawnbroker,
Achmad Halim, on Sunday.

Achmad revealed that up to November of this year, the East
Java offices' turnover had risen to Rp 156 billion ($16.4
million) or a 100 percent increase compared to the previous year.

He added that there was a 60 percent increase in the amount of
gold and diamonds being pawned.

"This month, we predict more people will come to pawn their
belongings. Many students usually come here also," he said,
adding that students usually pawned electronic goods like tape
recorders and calculators.(hdn)