Telco charges

The governments of Singapore and Malaysia have agreed to request the telcos to reduce their SMS and mobile charges between the two countries. The current charges are too high.

This is just one example about how businesses use the free market to over-charge consumers. Many examples exist in the banking industry and other businesses. It shows the fallacy of the concepts that the free market need not be regulated and that competition can bring down cost to consumer. In the free market environment, it is also difficult for businesses to agree on measures that are fair to consumers, when their own bottom line are involved.

I hope that the Government will realise that they have a role and a duty to take positive action to bring down prices for consumers and to ensure fair treatment of consumers. These matters cannot be left to good intention or the market.

Tan Kin Lian