PT. Jakpro Proposing Additional PMP Rp 2 Trillion

PT. Jakarta Propertindo (Jakpro) will propose additional Government Equity Capital (PMP) to City Government Rp 2 trillion. That fund will be used to cover shortage of financing from three projects construction towards Asian Games 2018.

About back up, we already have, but the main essential is we want to manage to get PMP

PT. Jakpro President Director, Satya Heragandhi, said his side still lack of financing for Light Rail Transit (LRT) Kelapa Gading-Velodrome, Equestrian, and Velodrome.

"There is funds shortage of Rp 2.1 trillion for three projects construction. We are trying to ask additional funds from City Budget (APBD). The documents are being prepared for council's approval," said Satya, Saturday (2/25).

Velodrome Construction Has Reached 40 Percent

According to him, this year his side will get PMP from APBD establishment Rp 1.2 trillion and APBD revision Rp 750 billion. But the fund is assessed still not enough for three projects financing.

He admitted that there are several alternatives which can be taken to cover the financing. One of them is bank loan. But that plan is not taken because of bank's interest that quite high.

"About back up, we already have, but the main essential is we want to manage to get PMP," he  expressed.

He added Jakpro recently already received PMP fund from City Government for Rp 4.45 trillion. The PMP detailed are 1.5 trillion in APBD-P 2015, and Rp 1.95 trillion in APBD 2017.

PMP that was given to Jakpro in City Budget 2016 was used to pay project contractor winner down payment (DP). PMP 2016 absorption also exceeded the limit. DP in total that was paid last year reached around Rp 1.2 trillion to Rp 1.3 trillion.