Budget 2026: ANGKASA Hails RM50 Million Support For Cooperative Development

KUALA LUMPUR, Oct 11 (Bernama) -- Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) has welcomed the RM50 million allocation to the Cooperative Commission of Malaysia (SKM) under the 2026 Budget, calling it a clear demonstration of the government’s commitment to recognising cooperatives as a vital component of the country’s economic ecosystem.

In a statement, ANGKASA said the initiatives focused on targeted aid, strengthening small and medium-sized enterprises (SMEs), and boosting community economic development are expected to enhance the growth and capacity of cooperatives. These efforts will help cooperatives continue to serve as drivers of economic growth at various levels.

"ANGKASA also supports the Budget's emphasis on strategic sectors like agriculture, green technology, and the digital economy, which present significant opportunities for cooperatives to enter high-value industries," the statement read.

It added that expanding access to development funds and training programmes for cooperatives will enhance their operational efficiency and broaden economic benefits for their members.

As the leading body representing more than 16,284 active cooperatives nationwide, with over 7.2 million members and annual turnover exceeding RM68.2 billion, ANGKASA also welcomed the government's efforts to expand the Rahmah Basic Aid (SARA) programme. This initiative will not only help the public purchase essential goods but also directly benefit cooperative stores and local retail outlets.

ANGKASA pointed out that with more cooperatives becoming authorised distributors for SARA goods nationwide, the programme will help strengthen the local economy, promote locally made products, and create new business opportunities for rural cooperatives.

"ANGKASA is committed to collaborating with the government to ensure cooperatives play an active role in strengthening the food supply chain and retail sector under this initiative," it added.

Meanwhile, its president, Datuk Seri Dr Abdul Fattah Abdullah, also expressed appreciation for the government's focus on the cooperative sector, adding that Budget 2026 demonstrates the government’s attention to the needs of the people and the role cooperatives can play in national economic solutions.

"ANGKASA is grateful for the government's commitment to strengthening the role of cooperatives as an engine of economic growth for the people. Budget 2026 opens new doors for cooperatives to expand their impact in high-value sectors," he said.

"With the right support and policies, we are confident that cooperatives will become strategic partners in achieving the Malaysia Madani objectives and contribute to a more equitable and resilient national economy," he added.

On Friday, Prime Minister Datuk Seri Anwar Ibrahim announced a budget totalling RM470 billion for 2026, focusing on economic resilience and support for small businesses amid global uncertainties.

The 2026 Budget, themed Belanjawan MADANI Keempat: Belanjawan Rakyat (Fourth MADANI Budget: A Budget for the People), aims to optimise and mobilise the country’s resources, including funds from government-linked investment companies (GLICs), federal statutory bodies, and Minister of Finance Incorporated (MKD) companies, through public expenditure totalling RM470 billion, compared to RM452 billion last year.

-- BERNAMA