Fulfilling The FLPP Program Budget Of IDR 30 Trillion, SMF Helps Cost 25 Percent To Light State Financial Weights

Illustration (Photo: Doc. Antara)

JAKARTA The special mission vehicle of the Ministry of Finance, which is engaged in the government housing program, PT Sarana Multigriya Finansial (SMF), stated that as of September 2022, Home Ownership Loans (KPR) with Housing Financing Liquidity Facility (FLPP) had reached 77 percent of the total target of 200,000 units.

SMF President Director Ananta Wiyogo said the Government had provided funds of IDR 30 trillion to provide access to proper housing for all people through the FLPP program.

Ananta explained that the tens of trillions budget came from the 2022 State Budget which was channeled through state capital participation (PMN) of IDR 21.1 trillion.

"The funds were then given to the People's Housing Savings Management Agency (BP Tapera) in the amount of Rp. 19.1 trillion and to SMF of Rp. 2 trillion. While the rest was obtained from the issuance of debt securities by us," he said in a written statement on Friday, November 4.

According to Ananta, his party plays an important role as the Ministry of Finance's fiscal tools in easing the burden on state finances by financing a portion of 25 percent of FLPP mortgage funding.

So, he continued, the government only provided a portion of 75 percent compared to the initial method which could reach 90 percent.

"In carrying out this program, the company synergizes with BP Tapera in providing FLPP mortgage funds which are then distributed to the public through channeling banks," he said.

For information, from 2010 to September 2022, the FLPP program has succeeded in supporting home ownership of 1.1 million units throughout Indonesia with a value of no less than IDR 104.8 trillion.

Meanwhile, the need for this year's FLPP mortgages, which reached 200,000 units, shot up 126.9 percent from last year's realization of 157,500 units.

"This is one of the positive trends of the housing industry in the midst of ongoing economic uncertainty," he added.

The SMF boss also said that the government was committed to efforts to own an affordable house, especially the underprivileged community group (MBR) through a subsidy program.

"SMF will continue to play a role in maximizing the mandate of the APBN to be able to provide decent housing for all Indonesian people through the FLPP KPR program," he concluded.