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01 Sep 2019
Movement for change
Suggestion View - 303
The govt should not micro manage but should regulate and set the framework

Most people like to say - the govt should not micro manage. I agree. 

But the govt should regulate and set the framework. They cannot leave matters to the market. They should not neglect their responsibility and duty. 

What is the difference between regulate and micro manage?

Here is the difference. 

Micro manage means to interfere in minor matters that should be left to the parties concerned.

Regulate requires the govt to set the framework on what is acceptable and what is not. 

Take the case of theft. The govt should set the framework on what is theft. The regulator should not be the party to determine if a theft has been committed. They should leave it to the police and the court to do their work. 

What are the areas that the govt failed to set the regulations?  They failed in these areas:

a) To determine what investment products should not be sold to the public. They leave it to the public who are not financially savvy to make this decision. As a result, many people are cheated by investing in investment products that are clearly unsuitable and unfair to them.

b) They fail to regulate on the penalties that are imposed by banks and mobile operators on their customers. The penalties for late payment of a credit card installment is exorbitant. The interest rate charged for installment payments are excessive. Similarly, the rate charged for roaming data are clearly excessive. 

c) They fail to set a minimum wage for workers. They allow workers to be exploited by receiving wages that are inadequate to meet the cost of living in Singapore. 

d) They fail to set the acceptable rates for health care services and allow patients to be over charged, compared to charges in other countries. Th charges for health care services are too high, increasing the cost burden to the people.

I like to call on the government to do their duty and to set the proper regulations to ensure that consumers are fairly treated by businesses and employers. 

Deputy PM Heng, care you listening?

Tan Kin Lian 

Vote - do you agree that the govt should do its duty to treat their customers fairly?

 


Agree: 12  Disagree: 0  Vote  Comment (2)

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