JAKARTA - The Jakarta Chamber of Commerce and Industry (Kadin) predicts that losses due to the halt of trading activities due to post-election riots on May 21 and 22, 2019 have reached Rp 1 trillion to Rp 1.5 trillion.
According to Jakarta Kadin Deputy Chair Sarman Simanjorang, the riots heavily affected economic activities in Jakarta.
“People are reluctant to leave their homes because they are worried with the current condition,” said Mr Simanjorang as quoted by Bisnis.com, Thursday (23/5).
As an example, Mr Simanjorang mentioned that the closing of Tanah Abang Market due to the riots reached Rp 165 billion per day. Previously, PD Pasar Jaya CEO Arief Nasrudin had said losses due to the closing of Tanah Abang Market had reached Rp 200 billion.
According to Mr Simanjorang’s estimation, there are a total of 80,000 kiosks whose turnovers have greatly suffered due to post-election riots in Jakarta. “This doesn’t include losses in other business sectors such as cafes, restaurants, banking transactions, and other business players who had their employees staying home to prevent any risk,” he concluded. (MS)