Price Hikes And The Singaporean Klondike.
With the recent price hikes and the unreasonably fast rate of inflation, many Singaporeans, including myself, are struggling to make ends meet. They say that we have to compete with other First World countries. Well let me tell you this: A waiter in a First World country gets paid more than S$2000 doing less hours than a normal Singaporean waiter. I know this because I have friends who are getting by well in those countries working as waiters/waitresses. Why are they being paid so much for a blue-collar and so-called 'menial' job? It is because the system in which they work in pays according to the rate of inflation; let's say if prices were to hike by 5%, the general economy in regards of the salary scale would also rise by 5% in order for the citizens to afford and keep their lifestyle and not have to suffer. In Singapore, do we have such a thing? I'm being rhetorical; of course we don't. The inflation goes up, salaries remain the same. If you want to keep your current lifestyle, be it simple or posh, you have to either get promoted in your current job or find one that pays better. In a country with 4.5 million people, do you think it is that easy to find a job, let alone one that pays you better? Sure, if you have the qualifications. How about the unqualified? What will happen to aunt Jane and uncle Bob who only have their 'O' level certification and have spent most of their lives working to support their elderly parents, siblings and children? What will happen to those who can't afford to further their studies? Will their jobs be taken by foreigners and those who CAN afford to further their studies? OF COURSE THEY WOULD. As they say: trample the weak, hurdle the dead.
All facts below are taken from The Straits Times.
Electricity to go up by 5.7% next quarter on higher oil prices
Electricity tariffs will go up by an average of 5.7 per cent from April 1 to June 30 due to higher fuel oil prices.
The hike, which is pegged to a higher forward fuel oil price of US$74.40 (S$103) per barrel, will mean an increase of 1.26 cents per kWh, said a statement from SP Services on Wednesday.
The forward fuel oil price is 12.25 per cent higher than the US$66.28 per barrel for the current quarter.
The electricity tariff is reviewed quarterly and adjusted accordingly in line with the fluctuation in the cost of electricity.
For the current quarter ending March 31, electricity tariffs went up by an average 5.94 per cent or 1.24 cents per kWh.
The tariff adjustments have been approved by industry regulator Energy Market Authority, said SP Services.
Steel yourself for rising material costs
Planning to renovate your home? If so, be prepared to pay 20 per cent more.
Construction costs - for both big projects and home renovations - have risen due to a hike in raw material prices and labour costs.
They are expected to increase even more this year.
Industry experts say overall construction costs are expected to rise by another 15 to 20 per cent in 2008 - following a 40 per cent spike in the last two years.
A global price rise in raw materials, and a construction resources and manpower crunch here, are to blame for the relentless rise, say market players.
Singapore Airlines to raise fuel surcharges
SINGAPORE Airlines (SIA) will increase its fuel surcharge for all flights from March 26 due to escalating jet fuel prices recently. The increase in surcharges of between US$4 (S$5.57) and US$7 will apply to SIA and SilkAir flights. On regional routes, the surcharge will go up from US$26 to US$30 per sector, for flights between Singapore and Asean countries.
For flights between Singapore and gateways in the United States and Canada on a single-sector basis, it will be up from US$123 to US$130 per sector, and on all other flights, it will be from US$75 to US$80. The new surcharge is subject to official approval in some markets, and some local variations may apply where regulatory approvals dictate,' said SIA in a statement on Thursday. 'The adjustments will offer only partial relief of higher operating costs arising from increases in the price of jet fuel.' The airline said it will continue to monitor the price of jet fuel and keep the application of the fuel surcharge under active review.
The airline last raised its fuel surcharge in December.
All facts below are taken from The Straits Times.
Electricity to go up by 5.7% next quarter on higher oil prices
Electricity tariffs will go up by an average of 5.7 per cent from April 1 to June 30 due to higher fuel oil prices.
The hike, which is pegged to a higher forward fuel oil price of US$74.40 (S$103) per barrel, will mean an increase of 1.26 cents per kWh, said a statement from SP Services on Wednesday.
The forward fuel oil price is 12.25 per cent higher than the US$66.28 per barrel for the current quarter.
The electricity tariff is reviewed quarterly and adjusted accordingly in line with the fluctuation in the cost of electricity.
For the current quarter ending March 31, electricity tariffs went up by an average 5.94 per cent or 1.24 cents per kWh.
The tariff adjustments have been approved by industry regulator Energy Market Authority, said SP Services.
Steel yourself for rising material costs
Planning to renovate your home? If so, be prepared to pay 20 per cent more.
Construction costs - for both big projects and home renovations - have risen due to a hike in raw material prices and labour costs.
They are expected to increase even more this year.
Industry experts say overall construction costs are expected to rise by another 15 to 20 per cent in 2008 - following a 40 per cent spike in the last two years.
A global price rise in raw materials, and a construction resources and manpower crunch here, are to blame for the relentless rise, say market players.
Singapore Airlines to raise fuel surcharges
SINGAPORE Airlines (SIA) will increase its fuel surcharge for all flights from March 26 due to escalating jet fuel prices recently. The increase in surcharges of between US$4 (S$5.57) and US$7 will apply to SIA and SilkAir flights. On regional routes, the surcharge will go up from US$26 to US$30 per sector, for flights between Singapore and Asean countries.
For flights between Singapore and gateways in the United States and Canada on a single-sector basis, it will be up from US$123 to US$130 per sector, and on all other flights, it will be from US$75 to US$80. The new surcharge is subject to official approval in some markets, and some local variations may apply where regulatory approvals dictate,' said SIA in a statement on Thursday. 'The adjustments will offer only partial relief of higher operating costs arising from increases in the price of jet fuel.' The airline said it will continue to monitor the price of jet fuel and keep the application of the fuel surcharge under active review.
The airline last raised its fuel surcharge in December.