KUALA LUMPUR – Cooperatives in the tourism sector are encouraged to participate in the Cooperative Movement Economic Transformation Programme (Transfer) introduced by the government to help ensure the economic viability of those affected by the Covid-19 pandemic.
Deputy Entrepreneur Development and Cooperative Minister Datuk Mas Ermieyati Samsudin said the initiative under the Cooperative Economic Recovery Intervention Plan provided opportunities for cooperatives to explore into new businesses or economic activities.
“The objective of this initiative is to help the affected cooperatives to explore new business opportunities to provide and enhance their sources of income, as well as to encourage cooperatives to diversify economic activities and not focus on one source of income,” she said in a statement which was issued by the Cooperative Commission of Malaysia today.
“The target group is cooperatives dealing in the tourism and personal care sector – such as hotels, homestays, taxi and bus services, and travel agents – with a grant of RM100,000 that involves an allocation of RM10 million.”
Among the new sectors recommended are agriculture, livestock, fisheries, and farming.
Ermieyati said various initiatives were implemented by the government in ensuring the economic viability of the cooperative sector.
On realising many business sectors are beginning to shift to online platforms, she said the government also introduced the Cooperative Products and Services e-Commerce Programme.
“This programme helps cooperatives to promote their marketing and sales of products or services online,” she added.
Ermieyati said the Covid-19 pandemic affected the business of cooperatives, resulting in a drop of RM4.34 billion in turnover from RM45.79 billion in 2019 to RM41.45 billion last year.
She said the cooperative retail sector can act as an agent to help address the cost of living of cooperative members, especially those in the B40 and M40 groups.
“The Koperasi Prihatin Rakyat Sales programme introduced under the Cooperative Economic Recovery Intervention Plan aims to encourage the public to shop and buy daily necessities at cooperative shops as the price is cheaper,” she said.
According to Ermieyati, as of last June 30, a total of 127 cooperatives had obtained approval for the three-month PKP 3.0 moratorium, amounting RM8.3 million.
“The Entrepreneur Development and Cooperatives Ministry is also giving an additional moratorium for three months making the entire moratorium period for cooperatives to six months,” she added. – Bernama, July 17, 2021
