Prabowo hosts Indonesian billionaires to discuss key programmes
Prabowo is looking for ways to fund his key programmes as state revenue takes a hit from the cancellation of a value-added tax hike meant for this year
INDONESIAN President Prabowo Subianto hosted eight local tycoons in a meeting at the presidential palace, laying out details of several of his big-ticket priority programmes as he seeks greater collaboration with the private sector.
The president on Thursday (Mar 6) met with business moguls including Indonesia’s richest man Prajogo Pangestu, instant noodle billionaire Anthoni Salim, coal baron Garibaldi Thohir, palm oil tycoon Franky Widjaja and real estate magnate James Riady in Jakarta, according to a palace statement. The attendees’ combined net worth is at least US$76 billion, based on Forbes’ data.
Prabowo told the businessmen about his big-spending plans that included giving free meals to all schoolchildren, building infrastructure, attaining energy self-sufficiency and developing the new sovereign wealth fund Danantara.
“The president expressed appreciation for the entrepreneurs’ support of government policies, especially those related to public welfare,” said the statement. “Going forward, the government and private sector are expected to strengthen collaboration.”
Prabowo is looking for ways to fund his key programmes as state revenue takes a hit from the cancellation of a value-added tax hike meant for this year. The president has ordered spending cuts to free up US$19 billion from state coffers, and gained a commitment from Bank Indonesia to help fund his public housing programme. BLOOMBERG
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