THE cooperatives movement can help the B40 group by overcoming cost of living issues, said Prime Minister Dr Mahathir Mohamad.

“The cooperatives model is a social entrepreneur programme that does not prioritise profit as its main objective.

“And as such, it can help benefit society and its members as a whole,” the prime minister said during the launch of the Malaysia Cooperative Societies Commission’s 100th year countdown in Putrajaya today. The society turns 100 in 2022.

He said the Barang Asas 100 (BA 100) e-commerce programme, which is organised by the Entrepreneur Development Ministry, is based on demand for basic necessities.

He said the cooperative link will enable cooperatives to control the supply and distribution chain effectively and reduce the cost of basic necessities.

“In line with Industrial Revolution 4.0, the cooperatives movement needs to be more aggressive to control the global Internet market,” said Dr Mahathir.

Also at the launch was Entrepreneur Development Minster Mohd Redzuan Yusof.

There are currently 14,237 cooperatives with a membership of 6.1 million in the country. – September 21, 2019.