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Jakarta Post

RI needs cheaper borrowing to boost transportation sector

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Sat, October 19 2019   /  02:01 am

Indonesia needs lower borrowing costs to further develop its transportation facilities and services so that the government’s goal of reducing logistics costs could be achieved, an industry representative has said.Indonesian Chamber of Commerce and Industry (Kadin) deputy chairwoman Carmelita Hartoto said more competitive interest rates for transportation companies, which usually borrow for longer tenures than other businesses, would help the transportation sector expand.“If we can secure financing with lower rates compared to other sectors, it would be better for us,” said Carmelita in Jakarta on Wednesday. “Our lending rate is still at double digits and we hope that it can be reduced to a single digit like in other countries.”Carmelita, who is also chairwoman of the Indonesian National Shipowners Association (INSA), said the local transportation companies would still prefer to...