The Minister Of PUPR Regarding The BI Rate Rose To 6.25 Percent: Construction Service Providers Have Not Asked For Adjustments

PUPR Minister Basuki Hadimuljono. (Photo: Theresia Agatha/VOI)

JAKARTA - Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono responded to the increase in interest rates which are now at the level of 6.25 percent.

Basuki said that until now the property sector service providers and construction had not complained about this.

"Until now there has been no proposal from service providers to ask for an escalation or ask for adjustments. No one has (complained)," he said when met by reporters at his office, Friday, April 26.

He added that when extraordinary conditions or force majeure are encountered in the future, there will definitely be a national policy.

"If it becomes a condition of chaos, there must be a national policy for that. If it is mentioned as a condition of chaos," he said.

When asked further if there had been a conversation between the government and the channeling banks regarding the adjustment of interest rates for housing loans (KPR), Basuki raised his voice.

He only ensured that this condition would definitely find a solution in the future.

"Yes, of course, if that becomes an obstacle, there will be a solution," he added.

For your information, Bank Indonesia (BI) decided to raise the benchmark interest rate (BI-Rate) at the level of 6.25 percent at the Board of Governors' Meeting (RDG) which took place on April 23-24, 2024.

In addition, BI also raised the deposit facility interest rate and lending facility rate by 25 basis points, bringing it to 5.50 percent and 7.0 percent, respectively.

BI Governor Perry Warjiyo said the decision to raise the benchmark interest rate at the level of 6.25 percent was a pro-stability step in monetary consistency.

"The Meeting of the Board of Governors (RDG) of Bank Indonesia on April 23-24, 2024 decided to increase the BI-Rate by 25 basis points to 6.25 percent," Perry said at a press conference, Wednesday, April 24, 2024.