This incentive was being offered to reduce production costs for farmers and fishermen during the COVID-19 pandemic.
"We have decided, and it is already underway. The government has prepared Rp34 trillion to relax installment payments and provide credit interest subsidies," President Jokowi stated while opening a limited cabinet meeting on incentives for farmers and fishermen in the context of maintaining the availability of staple foods, held at the Merdeka Palace here on Thursday.
Fiscal incentives from the government will be channeled through the People's Business Credit Program, Fostering a Prosperous Family Economy Program (PNM Mekaar), Pawnshops of Ultra Micro Credit, and also programs in other finance companies.
Moreover, the government has allowed delays in installments and provided subsidies through programs at the Maritime and Fisheries Business Capital Management Institution (LPM UKP), Prospective Farmer and Location Candidates (CPCL) program, or from the Ministry of Maritime Affairs and Fisheries (KKP) and the Ministry of Agriculture.
With regard to the stimulus from non-fiscal instruments, the government will guarantee a smooth supply chain with the availability of seeds, fertilizers, and production equipment for farmers and fishermen.
"We hope that the agriculture and fisheries businesses would become better through the availability of seeds and fertilizer production equipment," he added. Related news: KKP Ministry continually offers stimulus to fish farmers amid pandemic
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Translator: Fardah
Editor: Suharto
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