To cover for her undisclosed overseas investment losses, the wife of corrupted Prime Minister Lee Hsien Loong has just announced a 8.7% increase for gas tariff. In August 2017, the gas tariff was selling at 17.68 cents/kwh and it has now been increased to 19.23 cents/kwh. This is the third increase by Temasek Holdings-owned gas monopoly, City Gas.
Just last month, the electricity tariff was also increased by 13.7% this year, following a 30% increase in water price.
The Singapore dictatorship is currently in debt as it ran out of funds to pay CPF retirement sum in cash and lucrative projects costing tens of billions like Terminal 5 and Tuas Mega Port.
Temasek Holdings currently owes S$49.7 billion of debt, while GIC lost an estimated US$10 billion for 2018. The two sovereign wealth fund companies are managed by Ho Ching, who sits as the CEO of Temasek Holdings, while Prime Minister Lee Hsien Loong, who sits as the Chairman of GIC.
The two are above corruption investigations as Lee Hsien Loong puts the corruption bureau under his supervision.
Singaporeans in recent years have been seeing a number of tax increases and delays to their CPF withdrawal, to fund the corrupted couple’s overseas investments. Under Lee Hsien Loong, since he inherited the premiership from his father in 2004, CPF interest rate has been paying sub-par interest rates at 2.5%. The corrupted PM also increased the CPF Withdrawal Age from 55 to 65, and nearly tripled the Minimum Sum from S$80,000 to S$181,000 today.
Singapore is on track for a similar regime overturn in the next general election like Malaysia had in May this year. Lee Hsien Loong is expected to face corruption charges like former Malaysian PM Najib Razak once he lose power.