Co-Ops Contribute To Local Economy – Riot

SERIAN: The people here are encouraged to start their co-operatives in order to contribute to the local economy.

Minister of Human Resources Dato Sri Richard Riot said co-operative was an important tool in community economic development and the creation of healthy sustainable communities.

He also said co-operatives would be able to generate income and other benefits for members.

Co-operative is important because it enhances incomes and secure livelihood for its members and the communities.

The role of co-operatives is recognised in terms of development for the community worldwide, including Malaysia.

Thus, I would like to see more new co-operatives being set up in Serian, he said when officiating at the talk on opportunities and challenges in the oil palm industry, organised by Maktab Koperasi Malaysia (MKM) here yesterday.

Riot, who is Serian MP, however reminded members to let co-operatives manage their co-operatives, which are profit-driven. It’s vital, he added, that there’s respect for co-operatives integrity as an enterprise for profit.

He lamented there were co-operatives in Serian, which were once very good co-operatives, but have now failed.

They failed because of their own members. They failed to pay their debts. They had the capacity to pay what they have owed, but they refused to do. In the end, the co-operative collapsed.

He said members must always bear in mind that a co-operative is not a place for them to get things without paying.

If you can afford to buy something from other shops by cash, why should you owe the co-operatives shop for your basic needs.

He added that co-operatives were important because they allow members to participate in the economic and social development of their members.

Source: The Borneo Post