TEMPO.CO, Jakarta - The Public Works and Housing Ministry has started to auction projects for the 2016 fiscal year today, August 28, 2015. The early auction is said to be a strategy in managing funds for the 2016 fiscal year in accordance to the Public Works and Housing Minister Instruction No.3/2015 on the acceleration of the 2015 budget implementation and early auction for projects in 2016.
"There are 61 project package [to be auctioned], comprising of 30 packages worth Rp 1.9 trillion of funds and 35 packages worth Rp 1.78 trillion of securities issued by Bank Mandiri Syariah," said Hediyanto W. Husaini, Director General of Bina Marga at the Public Works and Housing Ministry on Friday, August 28, 2015.
The early auction was held today and will continue in September with a total project value of Rp 7.6 trillion while in October the total project value that will auctioned is said to reach Rp 8.5 trillion.
Budget allocation for the 2016 fiscal year for the Public Works and Housing Ministry has been set by the Finance Minister with a total of Rp 103.8 trillion. Some Rp 46.26 trillion will be used to develop roads and bridges.