B

ank Indonesia’s (BI) hopes of lawmakers deliberating the redenomination bill this year have been dashed.

A House of Representatives plenary session on Wednesday approved six bills to be put in the revised National Legislation Program (Prolegnas) for this year, including bills on water resources and customary land rights.

“The government is not yet willing [to propose the redenomination bill] because of the approaching political years [in 2018 and 2019],” House Legislative Body (Baleg) deputy chairman Firman Subagyo said.

The government, he said, had to comprehensively disseminate information about the bill to avoid public misunderstanding that could lead to social unrest. “If the bill was approved now to become a law, the psychological risk would have to be contained.”

The bill on redenomination, if approved, will slash three zeroes off the local currency.