Each and every rainstorm, no matter how brief, brings dread. What time will we get home?

When it rains many people become stuck in traffic while others opt to dally in the office until late. This has become the reality of life in Jakarta, a result of inadequate infrastructure and terrible traffic.

The failure of PT Jakarta Monorail (PT JM) to find investors for the monorail project is a further blow to efforts to improve public transportation in the capital. Many commuters are relatively pleased with the busway, but many more are still waiting for the promise of improved services.

For motorists, the delayed monorail project, its proposed route marked by massive concrete pillars standing uselessly in the middle of roads, only means yet another source of congestion.

The concrete structures have become mere reminders of the hope we had for another option with which to navigate Jakarta. It was four years ago when then president Megawati Soekarnoputri officiated the project's groundbreaking ceremony.

Now the fate of the US$450 million, 27.8-kilometer project is in the hands of Governor Fauzi Bowo and the city councilors. Recently, PT JM announced the failure, after years of effort, to convince investors to put their money into the project, and handed it back over to the city administration early this week.

According to PT JM director Sukmawaty Syukur, the failure came about because a consortium of three state banks -- BRI, BNI 46 and Bank Mandiri -- required the administration's financial participation as a pre-condition for their involvement in the project.

A very cautious Fauzi said his administration is not in a hurry to decide on taking part in the project. He even hinted that he would prioritize the continued development of the busway.

His caution is understandable because any commitment he makes affects large amounts of taxpayer money -- not only for an early investment in the project, but also for guaranteeing the return of investors' money and covering operational costs if the project misses its revenue targets.

Since the beginning, financing has been the project's main problem, because several studies found it would not be feasible if the monorail only relied on ticket sales. A ticket price of Rp 7,500 (about 79 US cents) per trip is still considered too expensive for the average urban traveler.

PT JM, particularly its major shareholder, PT ITC, had tried to find both local and international investors. But it failed to convince them their money would be safe. The central government's decree in support of the project also did not convince foreign banks that initially expressed interest in funding the project.

In trying to keep the monorail alive, PT ITC changed partners several times. In 2003, ITC ended an agreement with Malaysia's MTrans Holding, an operator of the Kuala Lumpur monorail, due to differences over financial issues.

ITC later signed a cooperation agreement with a consortium from Singapore, Omnico Singapore Pte Ltd. They set up PT Jakarta Monorail but their partnership did not last long due to a dispute over rolling stock for the cars.

Following the split, ITC owned 98 percent of PT Jakarta Monorail's shares, and entrusted the supply of rolling stock to the Indonesia Consortium of Monorail Industries (ICMI), led by PT Bukaka Trans System.

Now Fauzi's say will decide the fate of the monorail. He can stop the project; renew its cooperation agreement with PT JM or open a tender to find new partners in developing the monorail. If completed it would serve the city's business districts, with a 14.3-km line, and another 13.5-km line from Kampung Melayu in East Jakarta to Taman Anggrek Mall in West Jakarta.

Considering the hours we waste in traffic, millions of residents and commuters will suffer if Fauzi stops the project.

He needs to find a business partner more capable, both technically and financially, to develop the elevated transportation system in the capital.

In the meantime, the city is scheduled to complete five more busway corridors and improve services on the existing corridors.

Until then, every rainy night brings to many the prospect of a commute home that takes longer than a typical trip to nearby Bandung in West Java.

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