Heaptalk, Jakarta — The Coordinating Minister for Community Empowerment Muhaimin Iskandar urged the revision of Law Number 25 of 1992 on Cooperatives (Cooperative Law) as it is considered outdated.
“A cooperative is not only a legal entity but also a business entity. The Cooperative Law, which in the constitution is considered the backbone of the national economy, was last updated as Law Number 25 of 1992 on Cooperatives, which is very old. Therefore, we will work as hard as possible to ensure this Cooperative Law is amended soon. We want to create a comprehensive Cooperative Law,” said Muhaimin Iskandar in Jakarta on Tuesday (11/05).
According to him, the Cooperative Law will be more comprehensively regulated to expedite all enterprises to be cooperative legal entities. Muhaimin stated, “It should be noted that a legal entity can be one of the solutions through cooperative business entities, and we will regulate this in the new law. We will expedite and push for the new law as quickly as possible.”
Looking ahead, cooperatives can become key players in managing Indonesia’s economy, which is based on family values and mutual cooperation. “The Ministry of Cooperatives can be the main player in managing the Indonesian economy, as our country is based on Pancasila. Economic ventures are organized as joint efforts rooted in family values, which is essentially a cooperative. Cooperatives are embedded in Indonesian society because the keywords for cooperatives are mutual assistance and cooperation,” Muhaimin explained.
Meanwhile, Minister of Cooperatives Budi Arie Setiadi hopes that cooperatives can help reduce poverty and improve public welfare in various business sectors. “The Ministry of Cooperatives also focuses on revitalizing existing cooperatives and increasing Indonesian community participation in cooperatives through various programs launched by the President, such as free nutritious meals, fertilizer distribution, public housing, and others,” Budi concluded.
