In case you missed it, the GST hike will start in 2023. GST will be raised from 7% to 8% in 2023 before the gahmen ultimately raises it to 9% in 2024.
This expensive city will become even more expensive when the new year comes. Everything is increasing except our salaries.
But fret not; NTUC Fairprice got your back.
NTUC Fairprice will absorb the 1% GST hike for the first half of 2023 for 500 essential items and continue their discount schemes for senior and underprivileged families for 2023.
Everyday Low Price in 2023
Sticking to their tagline “Fairprice, everyday low price”, NTUC Fairprice will absorb the 1% GST hike for essential items in the first half of 2023, so consumers like you and me can slowly adjust to the rise in the cost of living.
While we worry about the rise of costs in other aspects of our lives, daily household necessities will, thankfully, remain the same for the time being, at least at this supermarket chain.
The 1% discount will apply to 500 essential items frequently purchased—like fresh fruits and vegetables, meat, staples, dairy, paper products, detergents and household cleaners.
Mr Vipul Chawla, the Group CEO of FairPrice Group, says that moderating the cost of living has always been a critical focus for Fairprice. They will remain committed to ensuring that their customers still have access to household essentials amidst the uncertain economic climate.
Continuing Discount Schemes For Seniors and Underprivileged Families
In addition to the 1% discounts to combat the GST hike, NTUC Fairprice will extend their discounted rates for Pioneer Generation (PG), Merdeka Generation (MG) and CHAS Blue card holders for the entirety of 2023.
These schemes will aid in alleviating some of their financial burden and expenditure in purchasing household necessities.
According to NTUC Fairprice, these initiatives have helped over $11.5 million in savings for senior and underprivileged families in 2022. These schemes help to safeguard their access to daily essentials, which they may not be as readily able to afford and cope with the rising costs.
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On Mondays, PG seniors enjoy 3% discount benefits when they show their PG card at payment.
On Tuesdays, seniors above 60 enjoy 2% discount benefits when they produce their NRIC at payment.
On Wednesdays, PG or MG seniors enjoy 3% discount benefits when they show their cards at payment.
On Thursdays, CHAS Blue cardholders enjoy 3% discount benefits when they show their card at payment.
On Fridays… Oh, who goes grocery shopping on Fridays?
Giant, Sheng Siong and Cold Storage… Your Move
Other popular local supermarket chains have yet to announce whether they have plans to combat the GST hike for their customers.
However, Giant had pushed out a Pre-GST Hike Warehouse sale earlier this week.
We shall wait and see with our kiasu eyes whether there is more money to save next year.
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Featured Image: Heng Lim / Shutterstock.com