Key insights and market outlook
President Prabowo Subianto has refused to review the list of companies that will be shut down due to violations, citing fear of finding friends or acquaintances on the list 1
President Prabowo Subianto has made the unusual decision to refuse reviewing the list of companies facing shutdown due to regulatory violations 1
Prabowo stated, "I don't want to read it because I don't want to be influenced if I find my friends in it" 1
The companies in question are primarily those that have been caught in operations conducted by the Task Force for Forest Area Order (Satgas Penertiban Kawasan Hutan or Satgas PKH) 2
Prabowo's reluctance to review the list raises questions about the transparency and implementation of the government's plans to penalize non-compliant companies. While his concerns about conflicts of interest are valid, they also highlight the complex interplay between personal relationships and regulatory enforcement in Indonesia's business environment.
The decision has sparked discussions about the challenges faced by policymakers in balancing personal and professional responsibilities with their duty to enforce the law impartially.
Government Crackdown on Non-Compliant Companies
Prabowo's Decision on Company List Review