- POSTED: 02 Sep 2014 20:38
The increase in postage rates range from 4 cents to S$2.50, and SingPost said the increase in revenue will allow it to invest S$100 million into postal and delivery infrastructure, extended operations and employees.
SINGAPORE: SingPost has raised its rates for the first time in eight years. It announced on Tuesday (Sep 2) that local postage rates for letters weighing 20g or less will be adjusted upwards by 4 cents to 30 cents from Oct 1.
Adjustments to international rates will range from 5 cents to 25 cents, depending on weight and the zones. International registered mail fee will increase from S$2.20 to S$2.50, to partially recover the cost increase in terminal due payments for registered mail.
SingPost said rates were last adjusted in 2006, and that costs have gone up nearly 50 per cent since then. To mitigate the impact of the rates increase, SingPost will give a 5 per cent rebate on franked mail for a year from Oct 1, 2014. Every household will also receive six free local stamps, and charity organisations will enjoy free postage.
SingPost says the increase in revenue from the rates adjustments will allow it to invest S$100 million into postal and delivery infrastructure, extended operations and employees. These improvements will include new integrated sorting machines to ensure 100 per cent delivery by the second business day.
Extended operations of six days, with Saturdays dedicated to mail packages, will cater to the growing trend of online shopping. SingPost will also hire up to 200 more delivery staff to boost its current manpower strength and serve new housing estates.
In a statement, the Infocomm Development Authority of Singapore (IDA) said SingPost had sought its approval to increase domestic and international postage rates for basic mail services. IDA reviewed SingPost's request and agreed to the rate revisions with effect from Oct 1, 2014.
IDA said it took into account that SingPost's commitment to investing in measures to improve its services, such as upgrading its postal infrastructure, increasing its manpower, and improving the welfare of, and investing in, its postal workers.
The authority also added that it will continue to monitor SingPost's service enhancement measures to ensure that these measures will improve the reliability and quality of basic postal services for businesses and consumers.