Leasing Batam Island

Leasing Batam Island

The concept of leasing Batam Island to safe economy as
appeared on page 4 of The Jakarta Post on June 20 could possibly
be the most innovative suggestion in healing our economic woes
ever tabled. Before we howl "neo-colonialism", consider the
possibilities in financial terms. The article mentioned a sum of
money between 50 and 100 billion U.S. dollars is needed in
foreign exchange to stabilize our economy and as a foundation
upon which to build a prosperous future.

Our Batam Island already boasts a sound infrastructure, and
with its proximity to Singapore, would surely be worth, say on a
100 years lease, (as was Hong Kong), the sum total of the figures
mentioned.

With a substantial reserve of foreign exchange safely tucked
away we could possibly bring the rupiah to a realistic level of
say Rp 5,000 to Rp 7,000 thereby restoring the purchasing power
of the vast majority of our population, (who probably have never
even heard of Batam Island) thus enabling them to enjoy a
reasonable standard of living again. We could possibly also tell
the IMF "thanks, but no thanks."

YOKE PANCAWARDANI

Denpasar, Bali