Indonesia, April 17 -- Mataram, W Nusa Tenggara (ANTARA) -

Minister of of Villages and Development of Disadvantaged Regions Yandri Susanto has proposed a moratorium on modern retail permits to redistribute economic growth toward rural areas and reduce the dominance of large-scale investors in the local economy.

"In modern retail, 100 percent of the profits are taken by the investors and business owners," Yandri said during a provincial planning meeting in Mataram, West Nusa Tenggara, on Thursday.

He stated that modern retailers would be replaced by the Red and White Village Cooperatives. These entities will manage savings, loans, groceries, logistics, pharmacies, and clinics.

Under the plan, at least 20 percent of cooperative profits ...