JAKARTA - President Director of PT Bank Tabungan Negara (Persero) Tbk (BBTN) Nixon LP Napitupulu views that housing endowment funds can be a better solution to solve the national housing backlog problem.

If asked what BTN proposed, the formation of this endowment fund could generate 600,000 houses a year to complete the backlog faster. The goal (if compared to Tapera contributions) is also both (to overcome) the backlog," Nixon said quoting Antara.

Nixon said that his party had submitted the proposed housing endowment fund concept to the government and hoped that the proposal would be approved by the government. With an endowment fund scheme, according to him, the target of building 3 million houses during the new government period can be implemented.

However, if you only rely on the Housing Financing Liquidity Facility (FLPP) scheme with the rolling fund model that has been running so far, Nixon reminded that the construction of 3 million houses will burden the State Revenue and Expenditure Budget (APBN).

(Target) 3 million (houses), meaning 600 thousand houses a year. Today only 200 thousand houses a year, so (the target is to increase) 3 times. In order to make it 3 times, the scheme must be changed. The scheme we propose uses endowment funds. Plus the combination of endowment funds, the return is to pay the interest difference subsidy," he explained.

Nixon said that the accumulated endowment funds in the early days of their formation were not too large, so they needed to be combined with interest difference (SBB) subsidies.

The proposed 'eternal fund model' proposed by BTN uses FLPP funds which are then invested in certain instruments. The returns or profits from the investment can later be used to pay SBB.

"If only FLPP, in our opinion, is expensive in terms of budget for the government. If SSB only, it will be expensive in the long term. So the best thing is the middle way, there is an endowment fund. But waiting for the accumulation of large endowment funds, yes, maybe there will be an SSB first combined," said Nixon.


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