KUALA LUMPUR, Dec 3 — The Malaysian Cooperative Institute (IKM) will be upgraded to university status within two years, Entrepreneur Development and Cooperatives Minister Datuk Seri Wan Junaidi Tuanku Jaafar said.
He said the proposal had been approved by Prime Minister Tan Sri Muhyiddin Yassin.
“I gave the prime minister the assurance that IKM will be upgraded to university status within two years and by then it will be able to stand on its own two feet, contribute profits to the Cooperative Commission of Malaysia and will no longer depend on the government for financial support.
“At the same time, we will also be able to provide education and training for members of cooperatives on business administration, financial management, entrepreneurship and much more,” he said when winding up debate on the Supply Bill 2021 at the Committee state for the ministry in the Dewan Rakyat today.
He said the ministry had also discussed with the Ministry of Education on getting full accreditation from Malaysian Qualifications Agency (MQA), the required eligibility requirements and so forth.
“I am just waiting for the right time to launch IKM as a university. I am very optimistic that IKM will be able to train cooperative members to become professional managers equipped with leadership skills and qualities important to the business,” he said.
The Supply Bill 2021 for the Ministry of Entrepreneur Development and Cooperatives was later passed at the committee stage with a majority vote after being debated by 10 MPs, five from the government bloc and five Opposition MPs.
The Dewan Rakyat session continues Monday. — Bernama