National Co-operative Congress 2024 Presents Eight Resolutions To Elevate Sector - Angkasa

KUALA LUMPUR, July 26 (Bernama) -- The National Co-operative Congress 2024 not only represents a significant milestone in the history of Malaysia’s co-operative movement but also aligns with the first anniversary of the MADANI Economy, which was launched by Prime Minister Datuk Seri Anwar Ibrahim on July 27, 2023.

ANGKASA president Datuk Seri Dr. Abdul Fattah Abdullah stated that the eight resolutions presented by the congress are the result of 27 engagement sessions conducted between February and June 2024, involving over 6,000 participants from diverse backgrounds.

“These resolutions must be prioritised by the government to elevate the national co-operative sector. The co-operative movement has been a pillar of economic success for the people since its establishment in 1922.

“To date, a total of 15,809 co-operatives have been registered, with a membership of 7.2 million. As of Dec 31, 2023, the co-operative sector has generated RM64.6 billion in revenue from shares totaling RM17.4 billion and assets valued at RM165.9 billion.

“Co-operatives have the potential to be a catalyst for the success of the MADANI Economy,” he said while presenting the resolutions at the closing ceremony of the congress here today.

Also present were the Minister of Entrepreneur Development and Co-operatives (KUSKOP) Datuk Ewon Benedick, his deputy Datuk R. Ramanan, and the Chief Secretary to the Government Tan Sri Mohd Zuki Ali.

The following resolutions were presented at the National Co-operative Congress 2024:

1. The co-operative sector should be recognised as a key contributor to the national economy and a catalyst for the MADANI Economy framework.
2. Amend laws and regulations to recognise co-operatives as business entities.
3. Integrate co-operative curriculum into the national education system to promote co-operative values in society.
4. Allocate sufficient funding to the co-operative movement, similar to the support enjoyed by Micro Small and Medium Enterprises (PMKS)
5. Strengthen the mandate and roles of key co-operative agencies: Malaysian Co-operative Commission (SKM) as the regulatory body, ANGKASA as the business development body, and the Malaysian Cooperative Institute (IKMa) as the training and education body.
6. Return the management of the Co-operative Development Trust Fund to ANGKASA as stipulated in the Malaysian Co-operative Aspiration.
7. Increase the tax-exempt members' fund limit from RM750,000 to RM1.5 million to enhance the competitiveness of co-operatives.
8. Establish a cabinet committee for co-operative development, chaired by the Prime Minister, with KUSKOP and ANGKASA as the joint secretariat. 

-- BERNAMA