PDIP Says Formula E Costs IDR 4,483 Trillion, Deputy Governor Of DKI: Not That Much

Deputy Governor of DKI Jakarta Ahmad Riza Patria / Diah Ayu-VOI

JAKARTA - Deputy Governor of DKI Jakarta Ahmad Riza Patria denied that the Formula E event for five seasons was estimated to cost Rp 4.483 trillion.

"Yes, it's not that big of a formula E fund," said Riza at DKI City Hall, Central Jakarta, Tuesday, August 31.

This estimate is based on calculations carried out by the PDIP faction of the DKI DPRD with the components of the commitment fee, bank guarantee, and operating costs.

However, Riza invited PDIP to reveal the calculation of the financing for the electric-powered car racing event based on the data they have.

"However, feel free to PDIP friends, if you have the data, please submit it. So far, the Formula E program is as big as what has been said so far," said Riza.

Previously, member of the PDIP faction of the DKI DPRD, Manuara Siahaan, said that Formula E, which was planned to be held for 5 seasons, would waste a budget of IDR 4.483 trillion. This is what makes PDIP propose the right of interpellation.

"There is a potential waste of Rp. 4.48 trillion of the budget, which consists of a commitment fee of Rp. 2.3 trillion, implementation costs of Rp. 1.2 trillion, and a bank guarantee of Rp. 890 billion," said Manuara at the DKI DPRD Building.

This calculation, said Manuara, does not refer to the feasibility study for Formula E which was previously made by PT Jakarta Propertindo (Jakpro).

This is because the feasibility study for Formula E made by the DKI Provincial Government does not include a commitment fee component for 5 years and a bank guarantee, so it appears that there is a potential economic benefit of Rp. 2.579 trillion.

In fact, the commitment fee and bank guarantee are charged from the APBD. So, like it or not, it has to be included in the expenses. If that component is included, Formula E will lose out.

"If Formula E is enforced in 2022, because the nature of the event is multi-year, then cumulatively at the end of the event it will see a loss of IDR 1.3 trillion," explained Manuara.