Market firm suffers Rp 56 billion loss

Market firm suffers Rp 56 billion loss

JAKARTA (JP): City-owned market management company PD Pasar
Jaya suffered a Rp 56 billion (US$5.6 million) loss in rioting
two weeks ago in which 13 of its 152 markets were damaged or
destroyed, an official said yesterday.

Spokesman for the company, Lihardin Sipayung, said the
estimated loss included the value of the company's assets, like
buildings and equipment.

"Seven of the 13 affected markets were either partly or
totally burned in the riots. Our headquarters and several cars in
Pasar Pramuka were also badly damaged," he told The Jakarta Post.

The seven are Palmerah and Cempaka Putih markets in Central
Jakarta; Perniagaan, Glodok and Hayam Wuruk Lindeteves in West
Jakarta; and Cipete and Pasar Minggu in South Jakarta, he said.

The riots that rocked the city from May 13 through May 14 also
caused substantial losses to vendors who had their kiosks looted
or burned, he said.

"We are still collecting data on vendors affected by the
riots. So far we have listed 3,384 vendors from 13 markets."

They include 1,072 vendors in Cempaka Putih market, 669 in
Palmerah, 646 in Glodok, 516 in Cipete, 276 in Perniagaan and 100
in Pasar Minggu, he said.

Also affected by the riots were 14 vendors in Koja Baru, four
in Kali Baru, two in Sungai Bambu and seven in North Jakarta's
Sindang market, two in Bukit Duri market in South Jakarta, and 76
vendors in Rawa Buaya market in West Jakarta, he added.

"It's difficult to estimate the financial losses traders
suffered in the riots because not all of them will tell us about
it," he said.

The company management has made available space in unaffected
markets to accommodate displaced traders.

Some vendors at Cipete market have taken the initiative to
renovate their stalls themselves or set up temporary tents so
that they can resume business, Sipayung reported.

"It's all right for them to set up tents as long as they
inform the local market management, which will see to it that no
tent is set up on other vendors' space," he said.

Sipayung assured the customers that his company's services
would not be affected because most traditional markets across the
city were not affected by the riots.

"We have 152 markets and only seven were totally destroyed,"
he said

Separately, head of Pasar Jaya, Albert Napitupulu, said the
company would soon begin rebuilding the destroyed markets one by
one, starting from the Cempaka Putih market.

"But it will only be a semipermanent one. Construction will
start on June 2 and is expected to finish in two months," he
said.

Albert said the construction work would be financed by both
Pasar Jaya and the traders.

"The cost for a square meter is Rp 500,000. The traders should
pay between Rp 100,000 to Rp 150,000, depending on the type of
their kiosk," he said. (cst/ind)