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SINGAPORE : Minister of State for Trade and Industry S Iswaran said Singapore will not impose price controls on essential food items.
He was responding to calls for price controls following recent price hikes for items like rice and flour.
Noting this is a global trend which has also hit Singapore, he however reassured Singaporeans there is an adequate supply of rice, and Singapore's rice sources are diverse.
"Our suppliers and importers tell us there is no need for any concern as such because they don't expect any disruption. And there are a couple of good reasons for that. First, they maintain that as part of the national plan, quite a substantial inventory precisely to meet these kinds of situations. Secondly, they have also diversified their sources across different countries, so even if we face constraints from one or two sources, we should be able to find alternatives which will fill up the gap," said Mr Iswaran.
Mr Iswaran spoke to the media on Saturday evening at the sidelines of a test on the lights to be used in September's Formula One race. - CNA /ls
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