RM100mil to assist co-ops in ensuring national food security

KUALA LUMPUR: A total of RM100mil from the Agrofood Fund will be placed under the Malaysia Co-operative Societies Commission (SKM) to assist cooperatives in expanding the agrofood industry, says Datuk Seri Ismail Sabri Yaakob.

In his speech when officiating the National Cooperatives Month 2022 (BKK2022) celebration here yesterday, the Prime Minister said this was due to the government’s confidence in the cooperatives’ ability in ensuring national food security.

“Hopefully, this can assist cooperatives in expanding the agrofood industry and the rearing of chicken in particular.

“At the same time, it can help cooperatives increase food production, which subsequently tackles the issue of the rising cost of living that leaves a big impact on Malaysians, especially those from the lower income brackets,” he said, adding that the government also agreed to provide a special allocation of RM10mil to the Entrepreneur Development and Cooperatives Ministry.

The allocation in turn would be used to organise exhibitions and expos together with associations and non-governmental organisations, he said.

The Prime Minister also noted that the government supported the forming of Koperasi Rakyat BR2.0 Malaysia Bhd (BR2.0) as a cooperative entity formed under the Cooperative Societies Act 1993 (Act 502) that was overseen by SKM.

“BR2.0 is also expected to play a major role and develop cooperatives as well as small and medium enterprises which contribute to the development of the nation’s economy.

“This (BR2.0) also enables members of Keluarga Malaysia (Malaysian Family) to invest and hold shares in cooperatives with expected positive returns,” he said.

Also present at the event were Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar and Federal Territories Minister Datuk Seri Shahidan Kassim.

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