KUALA LUMPUR, July 8 -- The Ministry of Entrepreneur Development and Cooperatives (MEDAC), through the Cooperative Commission of Malaysia (SKM), is encouraging the setting up of new cooperatives through the Prihatin Rakyat Cooperative Establishment Programme (KPR) to enable the targeted groups to carry out group economic activities through cooperatives.
MEDAC minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said an estimated 1,000 entrepreneurs would receive assistance through the formation of 50 cooperatives with the RM5 million government allocation under the National People’s Well-Being and Economic Recovery Programme (PEMULIH).
“Therefore, the public is encouraged to support the Prihati Rakyat Cooperative Sales Programme (JKPR) by buying their daily necessities at cooperative shops that offer lower prices than other outlets in the market,” he said in a statement today.
The government is allocating RM20 million through the PEMULIH initiative to help pandemic-affected cooperatives. This allocation is distributed through four Cooperative Economic Recovery Intervention programmes, namely KPR, JKPR, the Cooperative Movement Economic Transformation Programme (TRANSFER), and Cooperative Products and Services e-Commerce Programme (e-DAPAT).
The groups targeted under the KPR programme are micro small and medium enterprises (MSMEs) as well as affected individuals, including those who have lost their source of income.
Wan Junaidi said a one-off sales incentive would be presented to 200 cooperatives directly involved in the wholesale and retail sector to reduce the prices of everyday necessities, including sugar, flour, cooking oil, rice and eggs, with an allocation of up to RM3 million to enable the cooperatives to have a consistent cash flow.
The four programmes will run for a year beginning this month to ensure the cooperative business momentum return to stability.
Further information on the initiative can be found at SKM’s official portal at www.skm.gov.my.
-- BERNAMA
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