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8/12/2006

things are too cheap here!

CPF is charging $18 as admin fee to transfer your medisave money to pay for medical expenses! Is this reasonable? It all depends on how much is the cost of labour and other overheads. If rentals and overheads and salaries are high, then in order to operate at a profit, it has to charge accordingingly. Is it an issue of fairness? It again depends on how to compute the cost of admin fee. Nothing is for free. People must accept this mantra. Even keeping money in the bank, if too little, the bank will charge $2 a month to maintain your account. And this is cheap, in fact too cheap, to think of the high cost of operating a bank, expensive rentals, computers and well trained and highly educated staff. Actually the bank should charge something like $30 or $100 as admin fee as their overheads are very high. And out taxi fares are still very cheap compare to other major cities. We should comfortably double or triple the taxi fares to make it more befitting to other first world cities. And there will be more people, including professionals and graduates, rushing to become taxi drivers. Then we need not have to employ foreigners or will there be a shortage of taxi drivers.

1 comment:

Anonymous said...

Enjoyed a lot! »