More cash needed for Ramadhan

More cash needed for Ramadhan

PEKANBARU, Riau: State pawnshop company Perum Pegadaian in Pekanbaru has prepared Rp 3.5 billion (US$350,000) to anticipate people's escalating need for money in the fasting month of Ramadhan and the Idul Fitri celebration.

"In the last three months there's an increase in loan distribution and we estimate that by the end of October, it will reach Rp 3.5 billion," assistant to the company's operational manager, Ronal, said on Monday.

He said that from 2,500 of the company's clients, 90 of them pawned their gold jewelry and the rest motorcycles, cars, electronic equipment and cell phones. Most of them borrowed between Rp 500,000 and Rp 20 million.

"But there are customers who only borrow between Rp 20,000 and Rp 150,000," he said, adding that such low loans were mostly to pay for emergency needs, such as to pay for prescriptions or school expenses. -- Antara