JAKARTA - The Rupiah Redenomination Bill is not urgent and should not be a priority during the coronavirus (COVID-19) pandemic, the House of Representatives’ Commission XI said.
“There are more pressing matters that the government must handle,” said Commission XI member Anis Byarwati as quoted from Antara, Monday (13/7).
According to the Prosperous Justice Party (PKS) member, redenomination is important because it would simplify financial accounting in the country and facilitate easier State Budget arrangement.
However, Ms Byarwati warned that there is a possibility of the public mixing up redenomination with sanering or devaluation. In addition, she also warned that merchants could increase and round off prices excessively.
“To mitigate the risks [of redenomination], we need a strong legal basis with public support,” Ms Byarwati concluded. (MS)