What specific commodities did President Prabowo mandate must be exported exclusively through state-owned enterprises, and what constitutional principle did he cite to justify this move?

President Prabowo mandated that all exports of palm oil, coal, ferro-alloys, and potentially other strategic commodities must now be conducted through state-owned enterprises. He justified this by citing Indonesia’s constitutional provision stating that 'the land, water and all natural resources contained within them must be enjoyed by all Indonesians.'

According to the news, how much annual revenue does Prabowo claim Indonesia could save by eliminating practices like under-invoicing in commodity exports, and what broader warning did he issue to tycoons?

Prabowo claimed eliminating practices such as under-invoicing could save Indonesia $150 billion a year. He also warned tycoons that 'the era of impunity is ending,' adding that technology now enables more effective monitoring of illegal mining, illegal plantations, and hidden wealth.

Prabowo’s Biggest Crackdown on Tycoons Shocked His Own Officials

May 20, 2026

Indonesian President Prabowo Subianto announced a new state entity will oversee exports of palm oil, coal, and ferro-alloys to boost revenue. The move has shocked officials and markets, raising concerns over implementation and investor confidence in the resource sector.

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Prabowo’s Biggest Crackdown on Tycoons Shocked His Own Officials

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Indonesia Faces Crisis of Confidence as Markets Decode Prabowo

Prabowo’s Biggest Crackdown on Tycoons Shocked His Own Officials

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