Minister: President to Announce 8% Interest Rate for PNM Mekaar

Jakarta (ANTARA) - Minister of Micro, Small, and Medium Enterprises (MSMEs) Maman Abdurrahman has said that President Prabowo Subianto will announce the realisation of the interest rate reduction to 8 percent for PNM Mekaar customers.

“The date will be announced by the President himself,” Minister Maman said in Jakarta on Wednesday.

According to him, the reduction in interest from the previous 20 percent to 8 percent for PNM Mekaar customers was decided during a coordination meeting between the Coordinating Ministry for Economic Affairs, the Ministry of Finance, the Ministry of MSMEs, and Danantara.

Maman said that the formulation for the interest rate reduction has been prepared and is ready to be implemented as soon as possible, so that PNM Mekaar customers, who are mostly low-income earners, can be helped.

“The formulation has been prepared and is ready to be implemented,” he said.

Maman acknowledged that the plan to reduce interest rates for PNM Mekaar customers has been in the works for a long time, and President Prabowo Subianto has responded positively to the public’s complaints.

“This is a policy that is very pro-people at the grassroots level. It is very relieving,” he added.

Previously, BP BUMN, Danantara Indonesia, and the Coordinating Ministry for Economic Affairs finalised the policy to reduce financing interest rates to 8 percent for PNM Mekaar customers.

“The reduction in interest to 8 percent is a concrete step by the government to strengthen public access to financing,” said Head of BP BUMN and COO of Danantara Indonesia Dony Oskaria.

The policy is aimed at expanding access to financing for around 14 million Mekaar customers and supporting the President’s priority programmes in strengthening the people’s economy.