"We envision cooperatives receiving support from an LPS, similar to the one that currently oversees banks," said Deputy Minister of Cooperatives Ferry Juliantono in a statement issued Monday.
He explained that the proposal is one of the ministry’s key inputs for the Cooperatives Bill, which has been submitted to the House of Representatives (DPR).
Juliantono emphasized the bill’s significance, noting that it also includes provisions to support cooperative digitization as a way to boost business efficiency.
In light of this, he called for the expedited deliberation and passage of the bill, saying it is crucial to restore cooperatives as a key pillar of the national economy.
He further argued that the existing legal framework—Law No. 25 of 1992 on Cooperatives—is outdated and insufficient to support the sector's development in today's economic environment.
"I have identified around 22 regulations that have hampered cooperative growth. Through this bill, we aim to overcome those barriers," he stated.
Juliantono expressed hope that lawmakers would seriously consider the ministry’s proposals and pass the bill after the current recess period.
He also noted that the bill’s drafting has progressed smoothly, thanks to close coordination between the ministry and parliament.
The deputy minister reiterated that a new legal foundation is essential to help Indonesian cooperatives grow and diversify, particularly under the Red and White Village Cooperatives Program, which is set to launch on July 12.
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Translator: Shofi A, Tegar Nurfitra
Editor: Anton Santoso
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