"I will ensure that any companies involved in manipulation or legal violations will face consequences. Under the constitutional authority vested in me as President of Indonesia, we will confiscate anything we can," he said.
Prabowo made the statement while delivering his State Address at the Annual Session of the People's Consultative Assembly (MPR) and the Joint Session of the House of Representatives (DPR) and the Regional Representatives Council (DPD) in Jakarta on Friday.
"We will protect the people. We will ensure that Indonesians will not fall victim to this 'greedy-nomics,'" he emphasized.
He criticized deceitful businesses that have cheated citizens and sent their excessive profits abroad, stressing that such practices must end once and for all.
"As long as I serve as President of Indonesia, never think that the powerful and wealthy can act as they please. We will not be intimidated by their influence or riches — after all, their wealth comes from the Indonesian people," Prabowo said.
The president underscored that Article 33 of the Constitution mandates state control over "important sectors of production for the country which affect the lives of the people," and vowed that his government will enforce it for the benefit of the nation.
Prabowo also warned that those who speculate on essential commodities by hoarding them and causing shortages could face legal action.
"We will take a firm stance against anyone who breaks the law, ruins people's lives, or exploits the suffering of the common people for outrageous profit," he remarked.
During the joint session, Prabowo presented his first annual State Address and delivered a report on his administration's performance to the nation.
Later on Friday afternoon, he was scheduled to present his second address on the 2026 State Budget before a plenary session of the DPR.
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Translator: Genta Tenri M, Nabil Ihsan
Editor: Anton Santoso
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