72 million dollars deficit!
choongyong.koh April 18th, 2007
This article appeared in Straits Times Forum page on 18 Apr 2007:
E-disc savings will help defray HDB deficit
I REFER to the letter, ‘Charge less for parking with e-discs’ (ST, April 4), by Mr Eric Lim Cheng Wah.
The introduction of Radio Frequency Identification Technology-enabled (RFID) discs brings more convenience for season parking ticket (SPT) holders as they would no longer have to go to HDB branch offices to replace the paper SPT each time they renew their season parking. For those who renew electronically through Giro, the Internet or self-service kiosks, they do not have to wait for the paper SPT to be sent to them.
HDB currently incurs a deficit in its carparking activities. In FY05/06, the deficit was $72 million. The $600,000 cost savings from the introduction of RFID will be used to defray part of the deficit.
Eng Soh Seng
Deputy Director (Car Parks)
For Director (Housing Administration)
Housing & Development Board
The recent hotly debated Minsters’ pay totalled 56 million dollars, and that took up a whole 3-4 days of Parliamentary convincing to the people that the money was well spent.
72 million is definitely a lot more than 56 million dollars, so the question is that how come the Minister of National Development did not present this deficit in Parliament and account for the deficit? This quoted deficit was for FY05/06, so what were the deficits for the years prior to FY05/06?
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