President Prabowo Denounces Exploitative Business Practices
Jakarta, The Gulf Observer: President Prabowo Subianto on Monday issued a strong rebuke of exploitative business models driven by greed and unethical behavior, warning that such practices must not be tolerated or supported by the state. Speaking at the launch of the Red and White Village Co-operatives (Koperasi Desa Merah Putih) in Klaten district, Central Java, the President introduced the term “Serakahnomics” to describe these harmful economic strategies.
“These are no longer proper businesspeople. This is not business, this is not entrepreneurship. This is greed,” President Prabowo said. “This is not an economic school of thought; this is not taught in any faculty.”
He emphasized that such practices stand apart from all conventional economic systems, whether liberal, neoliberal, free-market, socialist, or command economies. “This is different. I call it Serakahnomics. They do not deserve good treatment,” he asserted.
President Prabowo expressed disappointment that these business behaviors continue to persist despite multiple warnings issued in recent months. He urged compliance with regulations and adherence to the law, stating, “I have given many warnings over the past several months. Please comply with the regulations and abide by the law.”
Drawing a powerful analogy, the President compared unethical business actors to “parasites” and “vampires” who exploit public hardship for personal gain. “Our people are still struggling, yet some seek profit from their suffering. That is what I call bloodsucking. They are economic parasites, economic vampires,” he stated.
The President underlined the economic impact of enforcing business regulations properly, estimating that Indonesia could generate up to Rp100 trillion (approximately US$6.1 billion) annually if businesses comply with existing laws. With such revenue, he noted, the government could significantly improve public services, particularly in education.
“This year, we are able to renovate 11,000 schools with a budget of Rp19 trillion. If I had Rp100 trillion a year, we could renovate 100,000 schools. We have 330,000 schools — in 3.5 years, we could repair them all,” he explained.
President Prabowo concluded his remarks by instructing Attorney General ST Burhanuddin and National Police Chief General Listyo Sigit Prabowo to take firm action against business entities that violate the law. “The attorney general and police chief, I trust you are loyal to the Indonesian people and to the sovereignty of our nation. Investigate! Let’s defend our people,” he declared.
