Indonesian Political, Business & Finance News

Archive: 13 March 2026

Showing 1,351-1,400 of 2,022 articles

Prasasti warns of prolonged energy price surge risks for Indonesia

Policy and Programme Director Piter Abdullah from the think tank Prasasti has warned that escalating Middle East conflict poses a significant external shock to Indonesia's economy in 2026, particularly if energy price increases persist over an extended period. Indonesia's limited strategic energy reserves—sufficient for only 23-26 days compared to the International Energy Agency's recommended 90 days—make the nation vulnerable to global supply disruptions, with prolonged high energy prices risking economic growth below 5 percent and pressuring the rupiah. The government is urged to improve policy communication, maintain fiscal discipline, and strengthen investor confidence whilst reviewing major strategic projects if the crisis deteriorates.

On Possibility of Budget Deficit Exceeding 3 Per Cent, Purbaya: I Don't Yet Know

Finance Minister Purbaya Yudhi Sadewa stated he has not yet confirmed reports that the government is considering raising Indonesia's budget deficit ceiling above the current 3 per cent threshold. Purbaya noted that whilst Indonesia's 3 per cent deficit limit is relatively conservative compared to Vietnam (4 per cent), India (5-6 per cent), and developed nations, the government is still assessing fiscal risks and the impact of global oil price fluctuations on the budget before making any decision.

Mobility Urban Hub Palmerah Inaugurated with 12 Ultra-Fast EV Charging Stations

Kompas Gramedia Property has inaugurated the Mobility Urban Hub in Jakarta's Palmerah district, featuring 12 ultra-fast electric vehicle charging stations (SPKLU) developed in partnership with Charge+ Indonesia. The facility represents the largest dynamic charging infrastructure in the area, with each charging point capable of delivering up to 360 kW and significantly reducing vehicle charging times compared to standard options.

240 Passengers Depart from Lebak Bulus Terminal Ahead of Eid

Some 240 passengers departed from Lebak Bulus Terminal in South Jakarta using 27 inter-city coaches ahead of Eid al-Fitr 1447 Hijriah, with major routes directed towards Cirebon, Jepara, Solo, Wonosobo, and Madura. Terminal officials reported peak congestion between 05:30 and 08:00 WIB and anticipate further increases towards the end of the extended holiday period, with passenger flows expected to surge significantly around 15-16 March 2026.

Rismon Admits Jokowi's Diploma is Genuine, PSI: Truth Finds Its Way

Rismon Sianipar has retracted his allegations that former President Joko Widodo's diploma was forged, acknowledging the charge was a total error and issuing an apology. The Solidarity Indonesia Party (PSI) welcomed the admission as vindication that truth ultimately prevails, whilst Rismon has filed for restorative justice with police.

National Energy and Mineral Resources Command Post Opens to Secure Energy Supplies During Homecoming Season

The Indonesian Ministry of Energy and Mineral Resources has established a National Command Post to monitor and coordinate energy services during the Ramadan homecoming and Eid al-Fitr 2026 celebrations. Operating from 12-31 March 2026, the command post will provide reliable information on fuel, liquefied petroleum gas (LPG), electricity, and geological disaster alerts. Pertamina has confirmed adequate national stocks of fuel and LPG, with 7,885 petrol stations, 125 fuel terminals, and 40 LPG terminals on standby to meet expected demand increases of up to 12 percent for petrol during the period.

Land Fire in Bengkalis, Riau Extinguished by Police and Spread Prevented

Land fires struck two villages in Rupat District, Bengkalis Regency, with police and other agencies conducting intensive firefighting operations. Authorities faced significant challenges from peatland conditions, strong winds, extreme heat, and limited water supplies, whilst monitoring 19 active hotspots across the affected area. No casualties were reported during the extinguishing and cooling efforts, with investigations ongoing into the fire's cause and responsible parties.

Pramono Inaugurates Pari Island Wharf Revitalisation in Thousand Islands

Jakarta Governor Pramono Anung officially inaugurated the revitalised wharf at Pari Island in the Thousand Islands archipelago, aimed at improving mobility for residents in the region. During his working visit on Friday, 13 March 2026, Pramono also conducted a Ramadan inspection tour of public services, distributed affordable food packages and free eyeglasses, and inaugurated wastewater management systems across several islands.

Corruption in Hajj Quota: Former Religion Minister Yaqut Alleged to Have Received Accelerated Special Hajj Fees in 2023-2024

The Corruption Eradication Commission (KPK) has found strong evidence that former Religion Minister Yaqut Cholil Qoumas received payments in exchange for expediting special hajj departures during the 2023-2024 pilgrimage seasons, causing an estimated state loss of Rp622 billion. The scheme involved systematically collecting funds through the Ministry of Religion's Hajj and Umrah Directorate, prioritising newly registered pilgrims who paid additional fees to jump the queue. Yaqut has been detained for 20 days pending investigation, with over Rp100 billion in assets seized.

15 families affected by flooding receive Rp83.7 million assistance from Ministry of Social Affairs

Fifteen families in Pariaman city, West Sumatra affected by flooding and landslides from hydrometeorological disasters in November 2025 have received Rp83.7 million in aid from Indonesia's Ministry of Social Affairs (Kemensos) to support their basic needs during post-disaster recovery. Each family member receives Rp15,000 daily assistance for three months (90 days) after verification by the National Disaster Management Agency confirmed their eligibility, with the aid distributed through PT Pos Indonesia's Pariaman branch.

Middle East Conflict Tests National Resilience

Indonesia faces indirect but significant threats from escalating Middle East tensions, particularly through economic vulnerability stemming from potential disruptions to global energy supplies via strategic chokepoints like the Strait of Hormuz. Military alumni organisation Menwa (Indonesian Student Regiment) is being mobilised as a key force to strengthen national resilience through promoting geopolitical awareness, countering disinformation, and maintaining social cohesion amid global instability.

Purbaya Opens Opportunity for Widening 2026 State Budget Deficit Above 3 Per Cent

Finance Minister Purbaya has indicated willingness to expand Indonesia's 2026 state budget deficit above the statutory 3 per cent threshold, citing geopolitical pressures from the Iran-US-Israel tensions that have driven up energy prices. Oil price sensitivity analysis shows that if crude prices remain at 92 dollars per barrel, the deficit could reach 3.7 per cent of GDP, well above the 70-dollar baseline assumption, though Purbaya emphasised that any adjustment would follow President Prabowo's direction and that current fiscal management remains prudent.

Ride-Hailing Platforms Address "Ojol Crisis" Amid Increased Service Demand During Ramadhan

Ride-hailing platforms have responded to complaints of service shortages during Ramadhan by citing shifting demand patterns and driver availability. Grab reported a 35 percent surge in service requests across Greater Jakarta during the Islamic holy month, with GrabBike and GrabFood seeing peak demand during evening rush hours and iftar time respectively, whilst driver working hours have shortened as many choose to rest or avoid afternoon traffic congestion.

Pramono: Eid al-Fitr Risks Heavy Rain, Warns of Rising Sea Levels

Jakarta Governor Pramono Anung has warned residents to prepare for potential heavy rainfall during the Eid al-Fitr holiday period and to monitor rising sea levels, particularly in coastal areas. He has also urged residents planning to travel for the holiday to report their departure to local neighbourhood administrators (RT/RW) to enable community monitoring of vacant homes and prevent incidents such as fires and flooding.

Cabinet Secretary Teddy Meets Social Minister Gus Ipul Late at Night to Discuss People's School Programme

Cabinet Secretary Teddy Indra Wijaya met with Social Minister Syaifullah Yusuf (Gus Ipul) at the Cabinet Secretariat in Jakarta on 12 March 2026 to discuss progress on the People's School (Sekolah Rakyat) programme. According to Teddy, nearly 20,000 out-of-school children have been brought back into education and provided with adequate housing, food, nutrition, and health insurance. President Prabowo is committed to ensuring no children are left without schooling or forced to live on the streets, with plans to expand the programme annually.

Jokowi Forgives Rismon Sianipar, Hands Legal Matter to Lawyers and Police

Former Indonesian President Joko Widodo has forgiven Rismon Sianipar, a suspect accused of forging academic credentials, after Sianipar visited his residence in Solo to apologise. Widodo has delegated the restorative justice process to his legal advisers and the Metro Jaya Police, stating that the matter falls under their jurisdiction as investigators.

Activity Options That Can Be Offered to Reduce Children's Screen Time

University of Indonesia psychology professor Rose Mini Agoes Salim advocates that parents restrict children's digital platform access whilst providing engaging real-world alternatives such as creative projects, physical activities, and community involvement. Psychologists emphasise that parental involvement is crucial in implementing government regulations limiting access for under-16s to high-risk digital platforms, with alternative activities helping children develop emotional regulation and social skills rather than relying on passive consumption of digital content.

Government ensures safe homecoming for citizens during Eid holiday exodus

The Indonesian government has deployed military and police personnel across key transport hubs and travel routes to ensure the safety of citizens travelling home for Eid celebrations. Coordinating Minister for Political and Security Affairs Djamari Chaniago emphasised the comprehensive nature of the security operation and urged travellers to prepare themselves and their vehicles adequately to prevent traffic accidents during the peak travel period.

Update on Hajj Quota Corruption Case: KPK States Gus Alex Directed Religion Ministry to Relax Hajj Policy

The Indonesian Anti-Corruption Commission (KPK) has revealed that Ishfah Abidal Aziz, special staff to the Religion Minister, directed Ministry of Religion officials to relax hajj policies for newly registered pilgrims in a scheme estimated to have caused state losses of Rp622 billion. The case has expanded to include former Religion Minister Yaqut Cholil Qoumas as a suspect, who has been detained for 20 days following a failed legal challenge, with investigations continuing into other parties including hajj travel agency owners allegedly benefiting from the quota manipulation.

Pramono Inspects Implementation of Cheap Market Programme on Pramuka Island

Jakarta Governor Pramono Anung Wibowo inspected a low-cost food market programme on Pramuka Island in the Thousand Islands, offering subsidised food packages at 50,000 rupiah (down from the market value of 100,000 rupiah) in preparation for Eid al-Fitr. The initiative, coordinated by the Regional Inflation Control Team and involving various stakeholders, aims to stabilise food prices and curb inflation during the holiday period across six Jakarta administrative divisions.

National Police Deploy Comprehensive Low-Cost Food and Healthcare Assistance Package

The National Police (Polri) and State Logistics Agency (Bulog) jointly launched a cheap food movement and free healthcare initiative in North Jakarta targeting approximately 3,000 low-income residents ahead of Eid al-Fitr 2026. The programme, coordinated with Polri's nationwide network, aims to distribute 80,000 tons of rice and tens of thousands of kilolitres of cooking oil monthly whilst Indonesia records its highest rice stockpile in independent history at 3.9 million tons, with projections to exceed 4.3 million tons by month-end.

Budget Deficit to be Maintained Below 3% of GDP: Parliamentary Budget Committee

The Chairman of the Parliamentary Budget Committee (Banggar), Said Abdullah, has reaffirmed the government's commitment to maintaining Indonesia's budget deficit below the statutory 3% of GDP threshold. The committee projects the deficit will remain at approximately 2.8% of GDP, emphasising that fiscal discipline and prioritised spending will preserve economic stability amidst global economic headwinds.

Indomaret and Alfamart Staff Could Become Obsolete as Humanoid Robots Emerge in China

Chinese robotics company Galbot has opened the first convenience kiosk operated entirely by humanoid robots in Beijing in August 2025, equipped with the Galbot G-1 model capable of serving customers without remote control. The development poses a potential threat to convenience store workers in Indonesia and globally, though the robots currently operate slowly and face technical challenges in speech recognition and bipedal movement that developers must overcome before wider deployment.

Drug Trafficker Koh Erwin Orders Boy to Flee to Pontianak

Drug trafficker Koh Erwin (Erwin Iskandar) allegedly ordered his associate Boy (Abdul Wahid) to flee to Pontianak, West Kalimantan, after their payments to the former Bima City Police Chief were exposed. Police arrested Boy in Pontianak on 12 March, as part of an investigation into a criminal network that had paid approximately Rp1.6 billion to the former police chief.

Cabinet Session on Eid Readiness to Proceed This Afternoon, Says Cabinet Secretary Teddy

President Prabowo Subianto will lead a Cabinet session at the Presidential Palace in Central Jakarta this afternoon at 4 p.m. to discuss Eid readiness. Prior to the session, cabinet members will make zakat (charitable) contributions to Indonesia's National Zakat Agency. The session comes amid concerns over global geopolitical tensions affecting oil prices and Indonesia's energy subsidy burden, though the Energy and Mineral Resources Minister reports domestic fuel stocks remain secure for the next 23 days.

PBNU Chairman's Message Regarding Arrest of Yaqut in Hajj Quota Corruption Case

The Chairman of Nahdlatul Ulama (PBNU), Yahya Cholil Staquf, has called on party members to exercise restraint and respect the legal process following the arrest of former Religious Affairs Minister Yaqut Cholil Qoumas on suspicion of corruption in hajj quota management, which is estimated to have caused the state Rp622 billion in losses. Staquf urged supporters to disperse peacefully and emphasised that moral support for Yaqut must focus on ensuring the legal process proceeds fairly and without ulterior interests.

National Police Commission Expresses Regret Over Komar's Re-arrest Shortly After Prison Release in Bandung

A commissioner from Indonesia's National Police Commission has criticised the decision to re-arrest Muhammad Ainun Komarullah (Komar) mere hours after his release from prison in Bandung, where he had served a six-month sentence for violations of the Information and Electronic Transactions Law. The commissioner argued that law enforcement must consider broader context and the principle of justice rather than merely satisfying criminal elements, noting that individuals should not be processed twice for incidents forming part of a single chain of events.

IHSG Falls 1.81% in Morning Session, Briefly Touches 7,100 Level

Indonesia's composite stock index (IHSG) declined 1.81% to close at 7,228.94 points in the morning session on Friday, 13 March 2026, experiencing significant volatility and dipping below 7,200 at its lowest point. All sectors finished in the red, with raw materials, utilities, and non-prime consumer stocks leading the losses, whilst regional Asian markets also suffered declines amid mounting concerns over oil supply disruptions stemming from the Iran-US-Israel conflict. Brent crude surged to USD 100.72 per barrel, and Iranian military officials have warned prices could reach USD 200 per barrel, triggering widespread market anxiety over global supply chain security.

Parliament Commission V Highlights Severe Damage to Jakarta-Tangerang Tollway

Commission V of the House of Representatives has raised concerns about serious deterioration on the Jakarta-Tangerang tollway managed by Jasa Marga, which poses safety risks to motorists as the Eid exodus season approaches. The commission conducted an inspection following numerous public complaints and found that the toll operator has failed to meet mandatory Minimum Service Standards across 16 key performance indicators. Parliament is demanding urgent repairs from the Ministry of Public Works, Ministry of Transportation, and Jasa Marga, with warnings that sanctions including tariff reductions could be imposed if the operator fails to address the damage promptly.

Don't Worry About Mudik with Electric Vehicles, PLN Doubles EV Charging Stations

PLN has increased the number of public electric vehicle charging stations (SPKLU) by 1.8 to 2 times, particularly along the Trans Java toll road rest areas, in response to growing EV adoption among mudik travellers expected to rise 1.6 times compared to last year's Eid holiday period. The utility company has also upgraded slower charging stations to ultra-fast charging and ensured adequate primary energy supplies across coal, oil, and natural gas to maintain system reliability during the Ramadan and Eid season.

Legislator Urges Modern Waste Management Implementation in Bintang Mountains Regency

A member of Indonesia's House of Representatives from Commission XII is pressing the Central Government to implement modern waste management systems in Bintang Mountains Regency, Papua Highlands, where waste infrastructure remains minimal and conventional open dumping methods dominate. The legislator has called upon the Ministry of Environment and Ministry of Public Works to establish 3R waste management facilities (Reduce, Reuse, Recycle) and transition from open dumping to controlled landfill systems, aligning with President Prabowo's government priority on waste management as a critical issue.

Fast-Food Fried Chicken Outlet Burns Down, Causing 200 Million Rupiah Loss

An ACK fried chicken outlet in Denpasar, North Bali caught fire on Friday morning, 13 March 2026, after an employee arriving to open the store discovered flames inside the building. Firefighters extinguished the blaze within minutes of arriving at approximately 07:30 local time, though the kitchen and customer seating area were destroyed, with preliminary estimates placing total losses at approximately 200 million rupiah from what is believed to be an electrical short circuit.

National Police Chief Confident Innovations at Merak Port Can Ease Eid Holiday Travel Queues

National Police Chief General Listyo Sigit announced several innovations at Merak Port in Banten designed to alleviate vehicle queues during the 2026 Eid holiday exodus. The measures include adding three buffer zones and utilising Krakatau Bandar Samudera Port as an alternative to prevent congestion, with plans to actively communicate these changes to the public through command centres and media outlets.

KPPPA: Women must be able to participate equally in national development

Indonesia's Minister for Women's Empowerment and Child Protection, Arifah Fauzi, has reaffirmed the government's commitment to ensuring women and girls receive protection and equal participation opportunities in national development. The minister emphasised that gender equality is not merely a women's issue but a crucial component of inclusive, sustainable, and equitable national development strategy, noting that Indonesia's Gender Development Index has improved to 91.85 in 2023.

H-10 Ramadan: Traffic Volume Increases, 26,449 Vehicles Leave Jakarta via MBZ Toll Road

PT Jasamarga Jalanlayang Cikampek reported a 21.4 per cent increase in vehicle traffic leaving Jakarta through the Sheikh Mohammed Bin Zayed toll road on 11 March 2026, ten days before Eid al-Fitr, with 26,449 vehicles recorded. The increase was particularly pronounced during evening hours at 60.71 per cent above normal levels. Authorities have urged drivers to ensure vehicle safety and readiness whilst remaining alert to weather conditions.

Vice President Gibran embraces Rismon at Palace after apology: We are brothers

Vice President Gibran Rakabuming Raka met with researcher Rismon Sianipar at the Vice President's Palace in Jakarta, where Rismon apologised for his previous statements regarding former president Jokowi's academic credentials. Following Rismon's clarification and apology, which he framed as a researcher's responsibility to be impartial and accountable, Gibran warmly embraced him and described their relationship as brotherly, emphasising the spirit of forgiveness during the Islamic month of Ramadan.

Ministry of Forestry Arrests Owner of Hundreds of Illegally Logged Timber Destined for South Sulawesi

Indonesia's Ministry of Forestry Law Enforcement Directorate has arrested the owner of hundreds of illegally logged timber that was being transported from Central Sulawesi to South Sulawesi without proper documentation. The suspect, identified as H, has been formally charged as part of the government's commitment to combating illegal logging operations, with authorities continuing investigations to identify those responsible for forging transport documents. If convicted, the suspect faces a maximum sentence of five years' imprisonment and fines up to 2.5 billion rupiah.

Not Just Phone Use: Psychologist Says Teenagers Now Trapped in Social Media Dopamine Cycle

Child psychologists warn that excessive smartphone and social media use poses a serious threat to adolescent behavioural development, with algorithmic systems designed to create dependency and trigger impulsive consumption behaviour. The Indonesian government has implemented age-based restrictions on high-risk digital platforms for children under 16, but experts emphasise that regulatory measures must be supported by active parental involvement and digital literacy education to prevent developmental harm to young people's social skills, critical thinking, and creativity.

700,000 Children Show Symptoms of Depression and Anxiety, Indonesian Paediatricians Association Highlights Social Media Influence

Indonesia's Free Health Check Programme for 2025–2026 has identified approximately 700,000 children (roughly 10 per cent of the 7 million screened) exhibiting symptoms of anxiety and depression. Dr Piprim Basarah Yanuarso, head of the Indonesian Paediatricians Association, attributes the high prevalence of child mental health issues significantly to social media influence, particularly among isolated children lacking parental attention, and advocates for stronger parental engagement and friendship-based parenting approaches to mitigate the condition.

Kaesang and PSI Receive Special Message During Visit to Gus Ali in Magelang

The Indonesian Solidarity Party (PSI) leadership, headed by Kaesang Pangarep, visited Darussalam Timur Watucongol Islamic boarding school in Magelang to seek counsel from influential religious leader KH Agus Ali Qoishor. The religious leader conveyed a special message urging PSI to listen to public aspirations, particularly those of ordinary citizens and the underprivileged.

PT Mulia Boga Raya (Prochiz) Plans Share Buyback Worth Rp28.12 Billion

PT Mulia Boga Raya Tbk (KEJU), a Prochiz manufacturer, plans to conduct a share buyback programme worth a maximum of Rp28.12 billion (approximately 0.90% or 50.675 million shares) to be executed within one month of shareholder approval at an extraordinary general meeting scheduled for 21 April 2026. The buyback aims to provide management flexibility to stabilise the share price and protect shareholder value when market prices do not reflect the company's performance.

One Year of Danantara: Pegadaian Strengthens Foundations for Indonesia's Future

Danantara Indonesia marked its first anniversary with a reflection event attended by President Prabowo Subianto and cabinet ministers, reaffirming commitment to professional state asset management and long-term national economic development. The event featured symbolic distribution of 88,000 school supply packages across Indonesia by state-owned enterprises, including 2,000 packages distributed by PT Pegadaian in South Sulawesi, reflecting the organisation's focus on financial inclusion and educational access as drivers of national progress.

Rismon Sianipar Now Claims Jokowi's Diploma Is Authentic, Will Publish Book for Atonement

Digital forensics researcher Rismon Sianipar has reversed his earlier position, now asserting that President Joko Widodo's diploma is authentic following a three-month review. Sianipar, previously a suspect in allegations that Jokowi's credentials were fraudulent, plans to publish a book detailing his findings and has met with both the Vice President and Jokowi himself to present his new research.

Mount Agung Climbing Closed for One Month During Sacred Ceremony at Besakih Temple

The Bali Provincial Government has officially closed Mount Agung to climbing activities from 28 March to 25 April 2026 to honour the sacred religious ceremonies of Tawur Tabuh Gentuh and Karya Ida Bhatara Turun Kabeh at Pura Agung Besakih. The closure applies to all visitors, including travel agents, nature enthusiast communities, and independent climbers, with officials also emphasising the importance of maintaining public service integrity during the period.

Cipularang-Cisumdawu Tollway Offers 30 Per Cent Discount Ahead of Lebaran

Jasa Marga Metropolitan Tollroad is implementing a 30 per cent tariff discount on the Cipularang and Cisumdawu tollway sections ahead of the 2026 Lebaran holiday to manage traffic congestion during the mudik (exodus) and pulang (return) periods. The discount applies to long-distance users travelling from Kalihurip Utama toll gate to Cisumdawu Utama from 15-17 March and 26-28 March, whilst the Jakarta-Cikampek II South tollway will operate toll-free as a functional route during the return journey if traffic congestion warrants it.

South Sumatra Provincial Government Maps High-Risk Routes for 2026 Eid Holiday Exodus

South Sumatra's provincial government has initiated comprehensive planning for the 2026 Eid holiday exodus, identifying vulnerable routes prone to accidents and congestion through a cross-sectoral coordination meeting led by Governor Herman Deru. Key highways and toll roads have been mapped for enhanced security operations, with peak traffic anticipated on 17 March 2026 and return traffic on 28–29 March, whilst transit posts are being established to ensure safe travel conditions.

United Launches Attractive Offers to Accelerate Electric Motorcycle Transition

PT Terang Dunia Internusa (United) is launching a March 2026 discount programme across its electric motorcycle range to capitalise on growing consumer awareness of environmentally-friendly two-wheelers in Indonesia. The promotion offers varying cashback and incentives, ranging from Rp 25 million for the TX3000 model down to Rp 1 million for the C2000, reflecting the company's commitment to accelerating the country's transition to electric vehicles amid global energy dynamics.

IHSG Session I Falls 133 Points; Check 3 Top Gainer Shares in the LQ45 Index

The Indonesian Composite Index (IHSG) declined 133.17 points or 1.80 percent to 7,228.94 during the first trading session on Friday, 12 March 2026, despite opening higher at 7,334. All equity sectors were in the red, with transportation leading the decline at 3.04 percent, whilst transaction values remained relatively low at 7.33 trillion rupiah across 908,000 transactions.

Gibran Presents Eid Hampers to Suspect in Allegations of Forged Jokowi Certificates Rismon Sianipar

Vice President Gibran Rakabuming Raka presented Eid hampers to researcher Rismon Hasiholan Sianipar, a suspect in allegations regarding forged educational certificates attributed to former President Joko Widodo, during a visit to the Vice Presidential Palace on 13 March 2026. Sianipar visited to extend Ramadhan greetings and revealed he had previously apologised to Jokowi in Solo on 12 March 2026, presenting revised research findings based on more comprehensive data. Gibran praised Sianipar's clarification and willingness to reconsider previous public statements, emphasising Ramadhan as a month for reconciliation.

Finance Minister Reports to Prabowo on Plan to Take Over PNM

Finance Minister Purbaya Yudhi Sadewa has informed President Prabowo Subianto of plans to take over PT Permodalan Nasional Madani (PNM) from BRI and restructure it as a Special Mission Vehicle under the Finance Ministry to streamline government credit distribution. The proposal aims to consolidate People's Business Credit (KUR) distribution through PNM rather than multiple banks, potentially reducing annual subsidy costs from Rp40 trillion whilst maintaining low interest rates for small and medium enterprises.