Monday, July 30, 2012

The COE System Was Skewed

When Transport Minister Lui Tuck Yew made the announcement on Friday that taxis will be removed from the Certificate of Entitlement (COE) bidding process from next month onwards, he said the move was a response to public feedback that taxi operators unduly skewed COE prices. And we always thought the car dealers were the bad guys colluding with each other for each round of bidding. Maybe the minister knows something we don't.

From 1 August, taxis will be removed from the bidding process and will have to pay the Prevailing Quota Premium (PQP) for Category A (1600cc and below) which is the moving average of the COE prices for the last 6 months. COEs used by taxi operators will also be taken from the quota for Category E, usually meant for bigger cars. Bottomline, it appears the total available COEs issued by the Land Transport Authority (LTA) will remain unchanged. How does that address a broken system?

The fact, obvious to everyone but this poor excuse of a transport minister, is that even as LTA reduces the number of COEs to be issued, the total population (resident and non-resident) has been growing unabated, thanks to the other broken policy of bringing in the foreigners by the plane loads. To exacerbate the situation, the hated National Population and Talent Division (NPTD) is advertising our country as the destination of choice for the filty rich, i.e. those who will take up 3 or 4 COEs per person, and think nothing of the $90,000 PQP because their other car is a Lamborghini. Meanwhile, the number of kilometers of roads, like the rest of the country's strained infrastructure, has never kept pace with the number of people crammed into the little red dot.

LTA said more details will be unveiled next week. Maybe they have a magic solution up their sleeves, but don't bet too much on it. You expect a submariner to come up with a sensible solution for the roads?

10 comments:

  1. What a brilliant way to 1). allow more COE for the rich,
    2). still rack in more or less same COE revenue -actually more, knowing that the quantum of each category is at almost all time high.

    ReplyDelete
  2. The coe is a system to deny common Singappreans to own car. Who are the people who need the use of a car the most? Families with very young children, as you can't bring a strollers on a bus during peak hours. Families whose family member may be handicapped. Families with aged parents who frequently visit the doctors.

    If a coe is needed to control the car population then rich people should not be allowed to buy as many cars as they like as the demand push up coe prices. The entitlement should not be given just because one can afford it but for one who has a genuine need for a car in Singapore.

    Otherwise all justifications to impose coe on the PEOPLE are just a mountain of male cow EXCREMENT.

    ReplyDelete
  3. SIMPLE QUESTION.

    Taxi is a form of public transport.
    So why do taxis need to have COEs?

    Do buses require COEs?
    Do MRT trains require COEs?

    ReplyDelete
  4. this govt is now failing on making money.

    i'm surprised they cant seem to see how
    Much More they would rake in if they cut
    the number of COEs for big cars.

    the rich would bid the prices of COEs to
    astronomical levels to make sure they have
    their BMW, their audi, their lexus And their Lambo/Ferrari/Maserati.

    at the same time, the govt would win brownie
    points with the ordinary person.

    just drives home the point that no one in govt actually Thinks any more.

    ReplyDelete
    Replies
    1. use your brains.

      The cars owned by Millionaire Ministers.
      Are these likely to be Cat A, Cat B or Open Cat. cars?

      Delete
  5. When any car buyer buys a new car, is he/she ever consulted on what price to bid for a COE ?

    The car agents instead are doing it in bulk and does it take a genious to decide whose interests do you think they will consider first ?

    And why do you think our bloody Govt happily condone them to the bidding for car buyers ?

    ReplyDelete
    Replies
    1. Singapore Fairy Tales
      (My favourite grandfather's story)

      The government cares about you and your family.

      But what more you want?
      3 meals in a hawker centre, food court or restaurant?

      Delete
  6. "Interview with Dr Christopher Balding on Singapore’s SWFs"

    The "truth" is out and it is a must-read. Christopher has summarized what we have all along know it, in a clear concise manner.



    http://newasiarepublic.com/?p=39938

    ReplyDelete
  7. Charging people to use the roads is not creative. It's another tax grab.
    There are some very common sense solutions to solve our traffic congestions, but I won't be proposing them. Let the millionaire minister squander his time, his talent and our money at his own peril.

    ReplyDelete
    Replies
    1. Fully agree.
      Time for our Million Ministers to put his own minions to work for a change.
      We are just going to sit back and monitor the results.
      If not happy, we just vote Opposition.

      Delete