Tycoons must not be selfish

Tycoons must not be selfish

From Pikiran Rakyat

The "Sell your U.S. dollars" campaign promoted by a number of government officials, ministers, businessmen and legislators is nothing but a moral drive. This is evident from the fact that the rupiah is still weak against the U.S. dollar and the price of goods, essential or otherwise, continue to soar.

Prices for these goods have risen by between 100 percent and 150 percent since we were first hit by monetary turmoil six months ago. Even now, there are no signs of improvement in Indonesia's economic condition. This situation is bringing suffering and is particularly affecting the weak.

It has been suggested that this monetary crisis, and its effects, will drag on indefinitely, especially since the 1998/1999 draft state budget, presented by President Soeharto, has failed to get IMF approval and must now be revised.

The cause of all this mess is foreign debt. If all the debt can be repaid we will certainly be strong enough to resist any further economic upheaval.

We therefore need a patriotic drive involving all the community, like that seen in South Korea, where citizens pitched in to help repay their country's external loans.

Such a patriotic drive must be initiated by the country's elite, particularly business tycoons, who reportedly deposit their money abroad. These tycoons should withdraw their overseas deposits to help their country overcome this monetary crisis. They have become wealthy through opportunities extended to them by the state and through collusion and manipulation.

Demonstrate your patriotism to your country and people. Your businesses have grown thanks to them.

You started your careers just wearing your underpants. Then you enjoyed favors from the state. Now that you are smartly dressed with a necktie, you deposit your money abroad. This is not funny at all.

I hope the economic and financial reforms will be coupled with political reforms, so that the people will once again trust their government. In the absence of political reforms, the economic and financial reforms will yield no dividend.

To this end, the government must tread wisely, listen to, and accommodate the community's aspirations, because the fate of this country is determined by its own people, not by the IMF.

Remove self-centered arrogance in the interest of reform.

RUKMANA

Bandung, West Java