KUALA LUMPUR: Over 2,600 cooperative retail stores nationwide will soon be activated to help Malaysians cushion the impact of the rising cost of living.
Entrepreneur Development and Cooperatives Minister Steven Sim said the ministry is drawing up plans to leverage these co-op marts to sell Sumbangan Asas Rahmah (Sara) products.
The move is part of a broader strategy to shield the public from global supply chain disruptions and geopolitical uncertainties.
"We are looking at how we can activate this network of 2,600 cooperative stores to help balance and reduce the prices of goods," he said.
While about half are school cooperatives with restricted public access, Sim said the ministry is looking into how they can benefit teachers and school staff.
"We are finalising the plans and an announcement will be made soon," he told reporters on Thursday (April 23).
Sim earlier chaired the National Cooperative Consultative Council (MPKK) meeting involving 36 representatives including state executive councillors and industry players.
Currently, the minister said over 240 cooperatives are participating as Sara partner stores.
"To join the Sara programme, these stores need Point-of-Sale (POS) and digital systems," he said.
The ministry will provide assistance to upgrade electronic systems so more cooperatives, especially in rural areas, can participate.
The council also discussed a proposal to expand diesel and petrol subsidies to cooperatives involved in logistics and rural economic activities.
Vital equipment used by rural cooperatives, such as pickup trucks and generator sets, are currently excluded from subsidy programmes.
The proposal will be forwarded to the Federal Government for further consideration.
On youth empowerment, a Business School in School pilot project will be launched in June involving secondary school cooperatives.
The programme will expose students to the business world, teaching them about shares, dividends and marketing.
Participating students will receive co-curricular marks and a certificate from Universiti Keusahawanan Koperasi Malaysia (UKKM).
The ministry is also collaborating with Shopee to turn 100 cooperatives into parcel self-collection points this year.
This could generate up to RM1,000 in additional monthly income for the co-ops.
The Malaysia Co-operative Societies Commission (SKM) signed three memorandums of understanding (MoUs) to strengthen the role of cooperatives in energy and palm oil.
In this collaboration, cooperatives may venture into the petrol station business and operate mini stations in rural areas.
In the palm oil sector, smallholder cooperatives will be empowered through group sales and opportunities for downstream activities.
Cooperatives, Economy, Retail, Subsidies, Youth, Education, Business, Logistics, Energy, Ministry
The Malaysia Co-operative Societies Commission (SKM) signed three memorandums of understanding (MoUs) to strengthen the role of cooperatives in energy and palm oil.
In this collaboration, cooperatives may venture into the petrol station business and operate mini stations in rural areas.
In the palm oil sector, smallholder cooperatives will be empowered through group sales and opportunities for downstream activities.
