ILUNI FEB UI’s 11th “Sobat” Chat: Surviving the Pandemic, PEN Program and Its Utilization


ILUNI FEB UI’s 11th “Sobat” Chat: Surviving the Pandemic, PEN Program and Its Utilization

Hana Fajria –FEB UI Public Relations Officer


Depok – (30/08/2020) The Alumni Association of the Faculty of Economics and Business, Universitas Indonesia (ILUNI FEB UI) and FEB UI’s UKM Center held the 11th “Sobat” casul chat session. The event, hosted by the UMKM Directorate of Entrepreneurship, brought together Rima Wira Sakti, MSME entrepreneur and FEB UI alumni, Class of 94; Pahala N. Mansury, President Director of Bank BTN; and Febrio Kacaribu, Head of Fiscal Policy Agency, Ministry of Finance, as speakers to share their insights. The chat session was moderated by FEB UI’s UKM Center Head T.M. Zakir Machmud.

Febrio Kacaribu opened the session with a presentation titled “Government Support for MSMEs amid the Covid-19 Pandemic”. The government allocated Rp123.46 trillion or 20 % of the National Economic Recovery (Pemulihan Ekonomi Nasional, PEN) funds for MSMEs. The funds are disbursed through the “Keluarga Harapan” Program, staple food cards, electricity subsidy, social aid in the forms of staple goods and cash, direct cash assistance (Bantuan Langsung Tunai, BLT), preeployment cards, to the latest programs, the Rp1.2-Rp2 million monthly aid for productive use and workers’ assistance, and the super micro home loan interest subsidy.

So far, the funds disbursed to MSMEs have reached 33.1% of government and non-government budgets. ”Economic growth is expected to rebound in 2021 to between 4.5-5.5%. Let’s hope we can survive and that there are opportunities in early 2021 so we can move faster. We have seen the worst economy. Let’s hope that growth won’t remain at -1 % in Q3 but will improve in Q4”, said Febrio.

The second speaker, Pahala N. Mansury, briefed the audience about the realization of the PEN program by Bank BTN  as participant bank in the form of stimulus to support sectors affected by Covid-19. The stimulus funds are channeled through several programs, such as health and social security, corporate financing and business incentives, as well as to government ministries and institutions, regional governments and MSMEs. Bank BTN has disbursed PEN funds to targeted groups based on the schemes outlined by regulators.

Stimulus for sectors affected by Covid 19 is also given in the form of loan restructuring. Until 10 August, 3,944,280 debtors with Rp467.503 trillion worth of debts have benefitted from the program. Bank BTN plays a strategic role in the disbursement of PEN funds because of its core business, namely home loan, which involves related businesses, particularly for the disbursement of stimulus funds. “It is our hope that going forward, BTN could disburse PEN funds through support for subsidized developers and interest rate subsidy, and also to use data on subsidized home loan customers to disburse additional PEN funds that are expected to increase demand and in turn drive sectors of the economy,” said Pahala.

The third speaker, Rima Wira Sakti, a finalist of Ernst & Young Entrepreneur Winning Women 2011,  shared her experience while running her business during the transition from the large-scale social restrictions (PSBB). She changed her marketing strategy and switched to cross selling, improved human resources, and actively seized any opportunity available. She used the PEN program to get lower loan interest rates from banks, tax rebates and wage subsidy from BPJS Ketenagakerjaan. (hjtp)