Weak rupiah

Weak rupiah

From Warta Kota

Since the New Order regime I have had the impression that ministers are happy to raise prices. One reason they give for price hikes is: "Prices haven't been hiked for a long time although the rupiah has been weakening against the dollar."

Knowing the problems we face, our ministers should have tried to improve things so that Indonesia's economy would be able to compete in the international market. I mean to say that Indonesia must be able to obtain strong foreign exchange earnings so that the rupiah would be potent and not impotent as it is now.

One source of U.S. dollars is foreign trade. Unfortunately we haven't mastered this field, as a result of which our foreign exchange reserves are flowing to other countries. For example foreign vessels are still heavily used in exporting and importing commodities. Only 3 percent of the ships used in foreign trade are Indonesian, whereas under UNCTAD's code of conduct it has been agreed that the ratio between foreign ships and national vessels should be 50-50.

The materialization of such an ideal composition is certainly not an easy job. A fighting spirit in all of President Abdurrahman Wahid's Cabinet ministers is required. Gus Dur's Cabinet should also strive to reach our maritime potential. We expect RI's ocean vessels to play a significant role in our foreign trade. We must fight against the "maritime phobia disease". With a five-year crash program, God willing, Indonesia's maritime potential can be achieved.

MOELYONO

Jakarta