Formula E audit: Rp90b commitment fee not paid yet

Formula E circuit (Source: Instagram @omroy02_)

Jakarta, IO – Supreme Audit Agency (BPK) has just finished the audit into the Formula E audit. The result showed there is still GBP5 million (Rp90 billion) outstanding commitment fee.

In response, JakPro VP Corporate Secretary Syachrial Syarif said the remaining fee will be paid using the company’s budget through a business-to-business scheme, not Jakarta’s regional budget (APBD).

According to the audit, the Jakarta serie of the race was initially planned for five seasons (2019-24). The costs consist of fixed cost and variable cost.

“The fixed cost in the form of commitment fee is to be paid every year. For five seasons the total is GBP122.1 million (Rp 2.2 trillion) while the assumed variable cost is Rp1.2 trillion,” the report reads.

Read: Indonesia monitors global situation after Turkey issues travel warning to the U.S. and Europe

After a renegotiation with the organizer Formula E Operation (FEO), the commitment fee became GBP36 million (Rp653 billion) for three years (2022-24).

“Up until 2021, GBP31 million (Rp563 billion) has been paid. The remaining GBP5 million (Rp90 billion) will be paid in the third year (2024) without using the regional budget. (rr)