Putrajaya : For the first time in history, the Indian Community’s Cooperatives have been awarded special grants since the cooperative movement began in this country in 1922. This is another initiative to empower the economy of the Indian community through the Cooperative Movement.
“On 13th October last year (2024) through the Ministry of Entrepreneurship and Cooperative Development (KUSKOP) and Cooperative Commission Malaysia (SKM), we hosted the Indian Community Cooperative Conference (PKKI), a historic event in the 100-year journey of Indian cooperatives in Malaysia. The reception received was truly wonderful! Indian cooperatives from across the country turned up in droves to Tun Razak Hall, Bank Rakyat Tower, proving their resolute and commitment to strengthening the community economy” Ramanan, the Deputy Minister of Entrepreneurship and Cooperative Development Ministry said in his Facebook posting.
“At the conference, I stood before hundreds of cooperatives and promised to fight for them. I also announced a Special Assistance Grant of up to RM30,000 to those cooperatives present, subject to the conditions set by the Cooperative Commission Malaysia (SKM). The promise is not just words, but a commitment that is now beginning to be realised. Today (15th of February 2025), the economic empowerment agenda of the Indian community continues to be intensified through the SKM Relief Grant and Revolving Capital Fund, with an initial allocation of RM1.4 million allocated to eight selected cooperatives” Ramanan further noted.
“Six cooperatives have received grants amounting to RM175,600 through the Bakti Madani Assistance Grant, while two more cooperatives received assistance of as much as RM1.225 million through the SKM Rounding Capital Fund (TMPSKM). This is the first phase!” Ramanan stated in his post. “This huge achievement shows that Indian co-operatives are not only being noticed but also being given opportunities to grow and move forward. However, I realised there are still cooperatives that face difficulties in the application process. I listen to every complaint, dive into the challenges faced, and I’ll never let them fight alone” Ramanan promised.
“In collaboration with SKM, we are going down to each state to hold briefings and discussion sessions with Indian co-operatives. We are committed to helping in terms of documentation, auditing, and all necessary information so that more cooperatives can benefit from the initiatives that have been provided. I urge Indian cooperatives not to miss this opportunity to further empower the socio-economic Indian society and drive economic growth of the country” Ramanan concluded in his statement.
