RM1 million fund to help co-ops affected by floods - MEDAC

KUALA LUMPUR:The Ministry of Entrepreneur Development and Cooperatives (MEDAC), through the Malaysian Cooperatives Commission (SKM), has allocated RM1 million in Cooperative Emergency Relief Fund to help alleviate the burden of cooperatives affected by floods in several states.

Its Minister, Datuk Seri Dr Wan Junaidi Tuanku Jaafar said the funds would be given directly to the eligible cooperatives and monitored by the respective state SKM branches.

The funds will be channelled to the 73 cooperatives that had been identified, including in Pahang (40 cooperatives); Kelantan (three); Terengganu and Johor (nine each); Perak (five); Sabah and Sarawak (two each); as well as Negeri Sembilan, Melaka and Kuala Lumpur (one each).

“This initiative is seen as one of SKM’s efforts to ensure the wellbeing and continuity of the cooperatives,” he said in a statement here today.

Wan Junaidi hoped that the emergency assistance would be able to help the cooperatives to re-develop their economic activities and cover any damage to their premises, assets or products due to the floods.

As of yesterday, a total of RM427,120 in emergency assistance had been approved by SKM.

As such, Wan Junaidi urged agencies under MEDAC to expedite all forms of related assistance to help ease the burden of the people due to the recent floods.

-- BERNAMA