According to Law Number 13 of 2022 on the Second Amendment to Law Number 12 of 2011 concerning the Formation of Legislation, it is mandated that all stakeholders should be invited to play an active role and participate in the formulation of policies
Jakarta (ANTARA) - Secretary of the Ministry of Cooperatives and Small and Medium Enterprises (SMEs) Arif Rahman Hakim invited stakeholders to provide ideas and inputs in a bid to improve the Cooperatives Bill.

"According to Law Number 13 of 2022 on the Second Amendment to Law Number 12 of 2011 concerning the Formation of Legislation, it is mandated that all stakeholders should be invited to play an active role and participate in the formulation of policies in the field of cooperatives," the ministry's secretary noted in an official statement here on Saturday.

Hakim remarked that the ministry requires inputs, especially for strategic issues that should be enhanced, such as for ratification of the deed of establishment, statutes, and bylaws, as well as strengthening the function and role of supervision of the savings and loan cooperatives.

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The other issues include prudential principles and investment restrictions, limitations on the management period and cooperative capital ownership, cooperative capital rearrangement, criminal sanctions, and member protection.

He expressed optimism that the regulation, which is formulated jointly, would become a legal basis that can be applied for at least the next 25 years.

Deputy for Cooperatives at the ministry Ahmad Zabadi stated that the bill is an effort to develop Indonesian cooperatives to become strong, healthy, independent, and resilient.

He remarked that the reform of cooperatives is a structural change that is conducted through renewal or change of regulations to adjust the business and institutional anatomy of cooperatives to be more adaptive to changing times as well as the development of a cooperative ecosystem that supports cooperatives' growth and development.

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Moreover, he assessed that the development of various technologies is inevitable and must be used as an opportunity for cooperatives to grow and develop.

Currently, the development of industries has offered new insights and pushed changes in people's behaviors in producing, distributing, and consuming goods and services.

"The globalization era also requires agile cooperatives with business networks that are strong and integrated with national and global supply chains, as well as firm in implementing cooperative identity," he stated.

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Translator: Sinta Ambarwati, Raka Adji
Editor: Fardah Assegaf
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