KUALA LUMPUR: To better serve the needs of budget-conscious shoppers and tackle the rising cost of living, the government is set to open 30 more cooperatives and fair price retail outlets nationwide by year end.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin said the move is to further strengthen the Cooperative Wholesale and Retail Sector in the country.
"Prime Minister Datuk Seri Najib Razak had, during the Umno Assembly last year, expressed the need to have fair price retail outlets at all constituencies.
"Following this, with the involvement of the Malaysian Cooperative Commission (SKM), we have decided to expand the number of cooperatives in both rural and urban areas.
"We aim to have at least one fair price retail shop in every parliamentary constituency.
"The prices of goods at these outlets will be reasonable," Hamzah told reporters after launching the Cooperative Wholesale and Retail Sector programme here today.
He said aside from locally-produced goods, the stores would also sell items manufactured by hypermarkets such as Tesco, Aeon and Giant, among others.
This, he said, is to ensure that only quality items are on sale at reasonable prices at the outlets.
Hamzah said those interested in setting up an outlet would have to meet a set of requirements in order to be entitled for a funding of RM300,000 to kick-start their business (including RM150,000 for renovation and purchase of items and another RM150,000 as a loan).
Among the requirements, he said, are that the cooperative should have a minimum capital of RM30,000, and the operator must have attended specific courses organised by SKM to enhance their skills.
"We aim to enhance the status of cooperatives in Malaysia and hope this will come true with support from the public and retailers," he added.