Cooperatives take on poverty

Former senator and three-term Makati Rep. Agapito Aquino recently called on the marginalized sectors to organize themselves into cooperatives to improve their stations in life.

Aside from becoming part-owner of a business, membership in a well-managed cooperative means more income to cover the family’s daily expenses, according to the veteran legislator.

Aquino urged collective action during a strategy meeting held recently with leaders of the country’s cooperative federations and unions at the Philippine Cooperative Center in Quezon City.

He asked the convenors to foster a stronger sense of community in the industry since grouping individual cooperatives into one confederation would give the movement the needed momentum to effect change.

The cooperative bloc, which Aquino described as one of the economic miracles of the times, has infused billions of pesos into the country’s financial mainstream.

From a motley 800 cooperatives before the turn of the century, the number has swelled to about 75,000 over the last decade.

It is estimated that cooperatives will contribute P148 billion to the economy this year.

The industry has also been a major source of employment providing jobs to more than 4 million people over the last five years, according to Aquino.

Citing the potentials of an organized land transport sector, Aquino said he would support the formation of a national cooperative for public utility vehicle drivers and operators of jeepneys, buses, taxis, and even tricycles.

He expressed confidence that such group could be one of the biggest cooperatives in the country, and could get into selling automotive spare parts and operate car repair shops besides gas stations.

Also chairman emeritus of the National Cooperatives Movement, Aquino is president of the Philippine Cooperative Center. –Manila Standard Today