Govt will pump Rp 700b into traditional markets

The government is planning to allocate a total of Rp 700 billion (US$81.2 million) for the revitalization of over 360 traditional markets across the country in 2012.

“In the 2012 budget, about Rp 500 billion [for the revitalization program] will come from special allocation funds, while some Rp 200 billion will be from outside,” Trade Minister Mari Elka Pangestu said in Jakarta on Monday.

She said the amount was an increase from Rp 505 billion allocated for the same program in 2011.

Mari added that 246 traditional markets would be revitalized using the Rp 500 billion special allocation next year, while 120 markets would use the additional Rp 200 billion outside funds.

“Ten of the 120 markets will be model markets. We want to comprehensively develop markets for the people; we want to revitalize not only them physically, but also the management and the merchants,” the minister said as quoted by Antara.

The government launched the market revitalization program in 2009 following a report that 95 percent of the country's 4,000 traditional markets were in “indecent” conditions.