REPUBLIKA.CO.ID, JAKARTA -- Director General of Budget within Ministry of Finance (MoF) Isa Rachmatarwata said the MoF and the National Food Agency (NFA/Bapanas) would form Standby Funds (Dana Siaga) to ensure food prices be well managed.
The Standby Funds is a payment method from the MoF to Perum Bulog and PT Rajawali Nusantara Indonesia (ID Food) to acomplish food supply.
"Substantially, this funds is to raise a confidence that there is no unlimited money. There is always limitation," Isa said in Coordination Meeting of Food Supply and Prices Assurance ahead Ramadhan and Idul Fitri in Jakarta, Monday (Mar. 4, 2024).
Isa told that the plan was designed as MoF's action to tame increasing food inflation in Indonesia. Thus, the funds was still on planning stage.
Until this time, Perum Bulog and ID Food have been accessing financing from State Banks Association (Himbara).
He also said that the Government would ensure both Perum Bulog and ID Food got effective and sufficient financing. One of the way was subsidized the loan interest.
"We assure Bulog and ID Food have budget to provide food, including subsidizing the interest and give lending," Isa added.
In terms of giving Bulog and ID Food lending, MoF would need audit form Financial and Development Supervisory Board (Badan Pengawas Keuangan dan Pembangunan/BPKP). Thus, the MoF asked Bulog and ID Food to maintain good corporate governance so the financing would be processed quickly.
"We keep accelerating all the reimbursement process to Bulog," Isa said.
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