President Prabowo Subianto has issued a scathing rebuke of unethical business practices in Indonesia, accusing certain business groups of exploiting the suffering of the people for profit, coining the term “Serakahnomics” to describe a blended behavior of the Indonesian word serakah (greedy) and economics.

“This is not genuine entrepreneurship. This is greed. This isn’t the kind of economics taught in universities. It’s Serakahnomics − and they don’t deserve our kindness,” Prabowo said during the launch of the Red-and-White Cooperatives in Klaten, Central Java on Monday, July 21, 2025.

He added that he has repeatedly warned these business groups in recent months, urging them to comply with regulations.

“I’ve given warnings many times. Please, follow the rules, obey the law,” he said.

Prabowo likened these actors to parasites and economic vampires, sucking the lifeblood from the people.

“Our people are still struggling. When someone profits from their suffering, that’s parasitic − it’s like being an economic vampire,” he said.

Prabowo argued that if these rogue business actors complied with the law, the government could earn up to Rp100 trillion (US$6.2 billion) annually in additional revenue − money that could be channeled into public services like education.

“This year we’re only able to renovate 11,000 schools with Rp19 trillion. If we had Rp100 trillion every year, we could fix 100,000 schools annually. With 330,000 schools in Indonesia, all could be repaired in just 3.5 years,” he cited.

The president issued a direct order to Attorney General ST Burhanuddin and National Police Chief General Listyo Sigit Prabowo to take strict action against lawbreaking businesses.

“Pak Attorney General, Pak Police Chief − I trust your loyalty to the nation and the people. Investigate and take firm action! Before we’re called by the Almighty, let’s stand up for the people and justice,” Prabowo said.

He also exposed widespread malpractice in the food distribution sector, particularly involving adulterated rice. He claimed the economic impact of this fraud could be as high as Rp100 trillion annually.

“Ordinary rice is being repackaged and sold as premium rice. This doesn’t just happen in Indonesia − it happens in Malaysia too. But we must act decisively. The Agriculture Minister has already taken action, but the problem persists,” he said.

He urged law enforcement to pursue these violators relentlessly.

“Pak Police Chief, Pak Attorney General − go after these bad actors so that Rp100 trillion can return to the state each year,” he added.

Prabowo also highlighted underhanded practices in the cooking oil sector, where producers allegedly reduce volumes in bottles by 10 percent to 20 percent, significantly impacting consumers.

“That’s a big deal when we’re talking about millions of tons. The same goes for rice − the quantity is reduced. This must be regulated,” he said.

Furthermore, recognizing the systemic anomalies, Prabowo expressed confidence that Indonesia’s technological capabilities are now sufficient to combat these issues. He cited the availability of regional quality testing labs and the increasing use of artificial intelligence to track and expose fraudulent practices more effectively.

“Indonesia is a rich country. And with today’s tools, we can find and solve these anomalies much faster,” he concluded.