Page 10 - MEDIAJAYA EDITION 7 2020

TOP REPORT Stimulus for

Business Owners

To revive the economy after ince the COVID-19 pandem- Jakarta government unveils sev-
COVID-19 pandemic, the Pro- ic hits Jakarta on early March eral ways to help revive the economy.
vincial Government of Jakarta S2020, some economic activities The Governor of Jakarta Anies Baswe-
unveils stimulus package for became a near-standstill. In fact, until dan has subsidized stimulus packages
business owners: tax break, May 2020, 75% of economic activities for business owners in the city, such
business credits and digital in the Capital has stopped. Some com- as tax break and support for shopping
trainings. panies laid off their workers—around centers, offices, restaurants and ho-
449,000 are being laid off. Most of them
tels. “It will help regain employment
are from textile, tourism and garment after many has been laid off,” said
industries. Evenmore, since the end of Anies.
April there are around 19,930 of UM- The process of reviving the econ-
KMs (Micro, Small and Medium Enter- omy will take longer time, though.
prises) who had stopped their opera- Anies admitted that it might need lon-
10 tions. ger time than the recovery of any pre-
The condition affecting Jakarta’s vious crisis. “We cant calculate how
realization of tax revenue, which fails long the recovery will take time since
to achieve its target. The tax revenue every people have to stop their eco-
that usually gets to be around 50 tril- nomic activities,” he said.
lion rupiahs is now only 22.5 trillion Hence, before the economic recov-
rupiahs. It impacted on the city bud- ery will take place, Jakarta govern-
get, too. The previous budget of 87.9 ment has distributed food assistance
trillion rupiahs is being cut to 47.2 tril- for the affected residents. They need
lion. to make sure that the people still have
foods to eat if, in any case, the Govern-
ment has to fully stop the economic
activities.
According to Anies, this stimulus
package distribution will target people
who owns UMKM since they are the
ones who have proven able to help re-
vive the city revenue by 60%. The gov-
ernment has distributed incentives for
UMKM vendors such as tax break for
kiosks and shops rent under the man-
agement of the city-owned enterpris-
es (BUMD) and regional working units
(SKPD).
Furthermore, there is restructuri-
sation in the form of interest reduction
and payment delay by the banks and
non-bank institutions. The city gov-
ernment also give facility of acceler-