Jakarta, June 30 -- The Housing Finance Liquidity Facility (FLPP) subsidized mortgage program is the flagship initiative supporting the president's goal of building and renovating three million homes annually, Public Housing and Settlements Minister (PKP) Maruarar Sirait (Ara) stated.

"We have been tasked with building and renovating three million homes in a year. Our flagship program, and by far the most crucial, is subsidized housing through FLPP, followed by the Self-Help Housing Stimulus Assistance (BSPS) for renovation," Ara remarked in Jakarta on Monday.

He noted that increasing the allocation for subsidized housing would also boost a range of related economic sectors.

"With support from Bank Indonesia's policies, we have increas...