KUALA LUMPUR, 13 April 2009: The government will issue an official statement on the Ministry of Entrepreneur and Cooperative Development (MECD), which no longer exists following the formation of the new cabinet, Deputy Prime Minister Tan Sri Muhyiddin Yassin said today.
“Let’s wait,” he told reporters after he handed over the duties of International Trade and Industry Minister to Datuk Mustapa Mohamed here.
Prime Minister Datuk Seri Najib Tun Razak, when unveiling his cabinet on 9 April, did not mention the MECD in his list of ministries. He later issued a press statement that all agencies under the MECD were being restructured and absorbed into several ministries.
Following this, Gua Musang Member of Parliament Tengku Razaleigh Hamzah, as well as non-governmental organisations such as the Malay Solidarity Action Body and Malay Chambers of Commerce Malaysia, were reported to have expressed concerns over the fate of bumiputera entrepreneurs since there is no longer a ministry that specifically looks after their interests.
Eleven agencies were previously placed under the MECD. They include Mara, Tekun Fund, Bank Pembangunan, Bank Rakyat, SME Bank, the Malaysian Cooperatives Commission, and the Urban Development Authority. — Bernama