Permanent Secretary for Industry, Trade and Tourism Shaheen Ali

Forty new cooperatives were registered in the 2018–2019 financial year.

Permanent Secretary for Industry, Trade and Tourism Shaheen Ali, while presenting their 2018-2019 Annual Report to the Standing Committee on Economic Affairs, says three existing cooperatives were diversified into new activities.

Ali says 26 training sessions were provided in financial literacy, starting a business, corporate management, and leadership, and about 910 cooperatives were part of the training.

He says less visibility is a challenge to them, and they have made their request as part of their budget submissions to the government for assistance.

“This year’s budget we have requested finance for more divisional cooperative Officers so that we can be more visible.”

Ali says they have also implemented the Young Entrepreneurs Scheme in the same financial year, where four business proposals were approved ranging from $20,000 to $30,000.