Gov’t reviews introduction of SingPost’s postage rate adjustments

This will help SingPost to operate on a viable business model.

Minister for Communications and Information (MCI) told the Parliament that the Infocomm Media Development Authority (IMDA) will coordinate with Singapore Post (SingPost) to allow postage rate adjustments.

“The upcoming adjustments will have to be of a sufficient degree to allow SingPost’s business model to remain viable, without requiring direct Government funding,” read the parliamentary QA.

Since 2020, the decline in domestic letter volumes will affect SingPost’s businesses with its current model.
IMDA will work with the postage company to review costs and operations including automating post office services for better cost effectiveness.

“IMDA will also review the current postal service obligations to ensure that they remain relevant in today’s highly-digitalised context, especially given the many alternative electronic communication channels available to consumers and businesses,” read the statement.

SingPost will also work with government bodies to look into the future of the city-state’s postal service.