BUKIT MERTAJAM: A total of 23 cooperatives in Penang received aid amounting to RM215,000 allocated by the state government through the Penang 2030 COOP Grant.
Penang Cooperative Societies Commission of Malaysia (SKM) director Norlelah Samsuddin said this was to help cooperatives in need to start or revive their businesses.
“This year, the state government allocated RM450,000 for the Penang 2030 COOP Grant. Under the first phase, we have distributed the aid to 23 cooperatives, each receiving up to RM10,000 for infrastructure purposes or working capital.
“Out of that number, 14 are school cooperatives because we want them to continue to grow and generate income to empower the community and improve the economy,” she told reporters here today.
She was met at the Penang Cooperative Movement Aidilfitri gathering, officiated by Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman.
Norlelah further said that the remaining RM235,000 from the grant would be distributed this year.
She said that currently, about 20 per cent of over 800 registered cooperatives in the state were inactive, and the Penang SKM was also focusing on reviving them.
Meanwhile, Ahmad Zakiyuddin said 74 cooperatives have benefited from the Penang 2030 COOP Grant since it was launched in February 2021.
He said Penang was the first state to provide assistance in the form of grants to strengthen the role of the cooperative movement as an essential instrument for community empowerment, especially in the micro- and macro-economic development sector.
“Therefore, I hope that all the initiatives implemented will benefit the cooperative movement in redeveloping businesses that were previously affected.
“I am sure and believe that cooperative movement will continue to be an important pillar to revive the country’s economy and strengthen the well-being of the people, especially in Penang,” he said. -Bernama