Gov’t Gives Rp2.5 Trillion of Initial Capital to BP Tapera

In a bid to support operating and investment activities of Public Housing Savings Management Body (BP Tapera), the Government deems it necessary to provide initial capital to BP Tapera sourced from the State Budget for Fiscal Year 2018.

Based on this consideration, President Joko “Jokowi” Widodo on 28 December 2018 signed Government Regulation Number 57 of 2018 on Initial Capital of Public Housing Savings Management Body.

“The Republic of Indonesia provides initial capital to Public Housing Savings Management Body that was established under Law Number 4 of 2016 on Public Housing Savings,” Article 1 of the Government Regulation reads.

According to the Government Regulation, the initial capital amounting to Rp2,500,000,000,000 (two trillion five hundred billion rupiah) consists of Rp2,000,000,000,000 (two trillion rupiah) of managed fund that will be used for the operating and investment costs of BP Tapera on an ongoing basis, and Rp500,000,000,000 (five hundred billion rupiah) for the investment of BP Tapera.

“The initial capital as intended will be in cash and categorized as a separate state asset which is sourced from the State Budget for Fiscal Year 2018,” Article 2 paragraph (2,3) of Government Regulation reads.

The Government Regulation Number 57 of 2018 shall apply as of the date of its promulgation on 31 December 2018 which is stipulated by Minister of Law and Human Rights Yasonna H. Laoly.(Pusdatin/ES)

Translated by : Rany Anjany Subachrum
Edited by : Mia Medyana