Slamet Susanto, Bantul – With Idul Fitri less than two weeks away and no money on hand, Yogyakarta earthquake victim Girah only has one option: pawning his old bicycle.
The 46-year-old resident of Kasongan hamlet, Bantul handed his bicycle over to the Bantul state pawnshop for Rp 150,000 (US$16.60), which he will use for Idul Fitri preparations.
"We're in difficult circumstances. I still haven't thought about how to buy clothes for my three children," he told The Jakarta Post after collecting his pawn ticket.
Girah's pottery business has been affected by the May 27 earthquake. His house and pottery-making equipment were damaged in the quake. He still lacks the means to repair his house.
To survive, Girah has been working at a large pottery factory in Kasongan. "I'm working at the moment. Later, if I have the money to repair my house and buy furniture, I will start producing pottery again," he said.
Another resident, Titin, 30, also visited the shop. She pawned her 14-inch television for Rp 500,000. "It's for Idul Fitri preparations. Plus, things are hard for us right now," said Titin.
Pawnshops have become a haven for people who need Idul Fitri cash due to their efficient procedures and relatively low interest rate of 1.6 percent per month. The total value of all transactions at pawnshops in Yogyakarta has risen between 40 percent and 70 percent, two weeks ahead of the annual holiday at the end of Ramadhan.
"Transactions have increased quite significantly since Oct. 1," said Bantul state pawnshop manager Susanta. She said in the first week of October, transactions totaled Rp 228 million, compared to just Rp 180 million in the same week of the previous month.
"The peak period for pawn transactions is seven days before Idul Fitri until the end of the month, which we estimate could approach Rp 900 million," she said.
Susanta added that according to a survey, there were two main reasons that most residents in Bantul pawned their belongings: Idul Fitri preparations and house repairs.
She said transactions actually declined following the May quake because most belongings suitable for pawning, such as motorbikes, TV sets and jewelry, had been damaged or lost.
"We expected transactions to increase again as Idul Fitri approached, especially due to the urgent need for celebrations and house renovations," said Susanta.
The pawnshop branch offices in Wates, Kulonprogo and Wonosari in Gunungkidul are reportedly doing well because of the holiday.
A warehouse employee at the Gunungkidul pawnshop, Masri Widodo, said the shop had already done Rp 457 million in business this month, compared to Rp 250 million the previous month. Transactions are expected to reach Rp 1.125 billion by the end of October.
"Our transactions have increased up to 60 percent, 90 percent of which is in the form of gold jewelry," said Kulonprogo pawnshop appraiser, Lilik Suryanto.