Hajj fund sufficient for infrastructure: Minister Brodjonegoro

Hajj fund, which currently reaches almost Rp100 trillion, is sufficient to finance infrastructure development, National Development Planning Minister/Chief of the National Development Planning Agency (Bappenas) Bambang Brodjonegoro said.

"Hajj fund is a long-term fund, while infrastructure development is also a long-term project. Hence, it is suitable to use long-term fund for a long-term project," he stated in a discussion here on Saturday (August 5).

To date, much of the hajj fund is invested in sharia state securities (SBSN), sukuk (sharia bond), and other securities. As a result, its benefit cannot be felt clearly, he noted.

This is different from what the Malaysian government has done by setting up Malaysian Hajj Saving Institution (LTHM) in 1963. Since then, hajj fund in Malaysia had been invested in profitable projects, he remarked.

"The LTHM has now invested in many countries, including Indonesia," he remarked.

The LTHM now has a net asset of 59.5 billion Malaysian ringgit or around Rp180 trillion. As a result of the good management of hajj fund, Malaysian hajj pilgrims currently pay only half of their hajj pilgrimage cost, he revealed.

"Malaysian hajj pilgrims only pay half of hajj pilgrimage cost. The good management (of hajj pilgrimage cost) has halved the hajj pilgrimage cost. We hope we can apply it in Indonesia too," he explained.

Among the projects which can use hajj funds are electrical power plants, airports, and projects under a cooperation scheme between the government and corporate bodies.

"Electrical power plants are very profitable as they can sell electrical power to state electricity company PT PLN. The same is also true with toll roads and airports," he pointed out.

Source: ANTARA