Prabowo's Move to Cut PNM Mekaar Credit Interest Rates Deemed a Revolution in Economic Justice

Jakarta – The General Board of the Indonesian Muslim Students’ Association (PB HMI) has expressed full support for President Prabowo Subianto’s policy to lower the ultra-micro loan interest rate for PNM Mekaar from 24% to 8%. This policy is regarded as a bold step that brings equitable justice to the small people, while also serving as a historic correction to injustices in the financing system. PB HMI General Chairman Bagas Kurniawan emphasised that this policy represents a tangible form of the state’s support for small communities. For years, large entrepreneurs have accessed credit interest rates of around 9–10%, while the poor have been burdened with rates up to 24%. This situation reflects an imbalance that does not align with the principles of social justice. With the interest rate cut to 8%, the state is present to eliminate the undue burden shouldered by small people. “PB HMI fully supports President Prabowo Subianto’s policy to lower the ultra-micro loan interest rate for PNM Mekaar from 24% to 8%. This Interest Revolution is a bold step that eliminates injustice, brings equitable justice, and provides equal opportunities for small people and micro-business actors to develop,” said Bagas in his official statement on Wednesday, 13 May 2026. Furthermore, PB HMI assesses that this policy is not merely a reduction in the interest figure, but a symbol of the government’s support for small people. With lower interest rates, millions of small families and micro-business actors will have greater opportunities to increase productivity, expand their businesses, and improve their living standards. “This policy brings equitable economic justice, opening opportunities for millions of small families and micro-business actors to increase productivity, expand businesses, and improve their living standards,” he added. PB HMI also stressed the importance of follow-up actions for the policy so that its benefits are truly felt at the grassroots level. The interest rate reduction must be accompanied by business mentoring, market access, and strengthening of MSME capacity. Without adequate ecosystem support, this policy risks being suboptimal. “PB HMI fully supports President Prabowo Subianto’s policy to cut the Mekaar interest rate to 8%. This step is an important milestone in equitable justice. PB HMI is ready to monitor the implementation of the policy so that its benefits are truly felt by small people, ensuring that this policy does not stop as mere discourse but becomes a reality that changes people’s lives,” Bagas asserted.