According to reporting from Tempo, President Prabowo Subianto has signed Government Regulation No. 47 of 2024, which authorizes the write-off of bad loans for micro, small, and medium enterprises (MSMEs) in the agriculture, plantation, livestock, fisheries, and maritime sectors. The regulation was signed at the Merdeka Palace on Tuesday (5/11/24.)
He said the government hopes this measure would provide much-needed relief to farmers, fishermen, and other MSMEs. “It will enable them to continue their work and contribute to the nation’s progress,” he said.
The President emphasized that the technical implementation of the regulation will be overseen by relevant ministries and institutions. He expressed his hope that this initiative would inspire renewed optimism and enthusiasm among MSMEs across Indonesia, says Tempo.
State-Owned Enterprises (SOE) Minister Erick Thohir had previously revealed the government’s intention to write off and collect MSME credit. During a working meeting with Commission VI of the House of Representatives (DPR) on Monday (4/11/24,) he explained that this measure would stimulate economic activity by recirculating credit.
He explained that his side proposed a five-year track record as a criterion for debt forgiveness, says Tempo.
Several officials were present at the signing ceremony, including State Secretary Prasetyo Hadi, Finance Minister Sri Mulyani, Agriculture Minister Andi Amran Sulaiman, Maritime Affairs and Fisheries Minister Sakti Wahyu Trenggono, MSME Minister Maman Abdurrahman, Law Minister Supratman Andi Agtas, Military Commander Agus Subiyanto, National Police Chief Listyo Sigit Prabowo, Attorney General Sianitiar Burhanuddin, and State Intelligence Agency Head Muhammad Herindra.
Source: Tempo
Stock photo by Polina Kuzovkova on Unsplash
