I think those current leaders at CUEPACS have good heads above their shoulders. They have decided that the deduction service of civil servants be done in-house to generate money for their own internal programmes such as giving scholarships to their members' children. In this JPA has failed miserably. Civil servant children were not given any preference for JPA scholarships. Real rotters!Believe me employees of TNB or Petronas provide scholarships to their employees' children.Great idea, Cuepacs. Salute to you.
So now Angkasa is having a hell of a headache. On the face of losing a substantial sum of easy money, Angkasa, has asked for a comprehensive study to be carried out before any organisation is allowed to take over the monthly salary deduction service for government sector loans.
Angkasa general manager Nasir Khan Yahaya said Cuepacs' request to the Treasury to allow it to take over the monthly deduction service would put the future of the cooperative movement at stake.
"The government has the right to give the task to any organisation but a thorough study must be carried out on the impact and implications of such proposal," he said in a statement today.
Cuepacs secretary-general Ahmad Shah Mohd Zin was reported as saying that Angkasa was raking in some RM8.1 billion a year in commission by providing the deduction service for both the government and private sectors.
If the proposal is accepted, Cuepacs could earn about RM4 billion annually and it would be channelled back to the civil servants through a foundation in the form of scholarships, medical aid and grants, Ahmad Shah added. -
Nasir Khan said Angkasa would continue to protect the interest of 3,804 cooperatives and 6.5 million members from the public and private sectors. Koperasi Pendidikan Islam Malaysia Berhad chairman Mustapha Kamal Maulut has denied Cuepacs' claim that it was earning RM8.1 billion in commissions from the monthly salary deduction.
Angkasa is well-equipped to handle the transactions and so far there is no leakage in the system, he said in a statement.
