KUALA LUMPUR: RM6mil has been allocated to Angkatan Koperasi Kebangsaan Malaysia Berhad (Angkasa) for various programmes involving cooperatives across the country, says Prime Minister Datuk Seri Anwar Ibrahim.
The amount includes a new RM2mil allocation to Angkasa, comprising RM1mil for programmes involving Asean cooperatives as Malaysia assumes the grouping's chairmanship next year, and two RM500,000 allocations for developing and training rural mosque cooperatives.
Anwar also said a RM2mil allocation had been made by the Domestic Trade and Cost of Living Ministry for Rahmah Sales and another RM2mil from the Implementation Coordination Unit under the Prime Minister’s Department for the Program Sejati Madani.
“We want to ensure wider public participation in the cooperatives,” he said during the closing ceremony of the National Cooperatives Congress at the World Trade Centre Kuala Lumpur on Friday (July 26).
Anwar encouraged all federal and state government agencies to set up cooperatives so that their respective staff could enjoy benefits and dividend incentives under Angkasa.
“The Finance Ministry can also consider partial allocations from ministries or agencies to the management of cooperatives under the respective ministries and departments, according to procurement procedures,” he added.
Anwar also urged the more than 15,000 cooperatives across the country to cooperate with the government in making Malaysia a more sustainable and productive nation.
Meanwhile, Anwar said Putrajaya has agreed in principle to amend several legal provisions to turn cooperatives into business entities.
According to Anwar, the draft of the amendment Bill is being finalised by the Attorney General’s Chambers (AGC).
“The early draft will be brought to the Cabinet in about two months after it is completed by the AGC,” said Anwar.
Present during the event was Chief Secretary to the Government Tan Sri Mohd Zuki Ali, Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick and his deputy Datuk R. Ramanan.
Ewon said Angkasa has 7.2 million members across the country and recorded revenue totalling RM64.6bil last year.
“This figure surpassed the ministry’s target of RM60bil (in revenue) for 2025.
“At the same time, the cooperatives' success in penetrating various economic sectors has increased its share capital and fees amounting to RM17bil, with asset generation worth RM165.9bil,” he added.
He was also confident that the outlook for cooperatives will continue to grow, given the recent positive economic growth recorded by Malaysia.
“We are confident that the cooperatives' revenue contribution target of RM73bil under the Malaysian Cooperatives Policy 2030 can be achieved much earlier,” he said.
