SINGAPORE : NTUC Fairprice has decided to continue absorbing the 2 percent GST increase on a basket of 400 essential items till the end of March next year.
Since June, the entire GST absorption exercise has cost the co-operative S$7 million.
Mrs Yu-Foo Yee Shoon, Minister of State for Community Development, Youth and Sports announced this at an event to give out study grants.
Fairprice is awarding more than S$550,000 in study grants to over 600 of its members' and staff's children.
This is a 12 percent increase from last year.
The grants are awarded based on financial need and they range from S$200 for primary school students to S$3,000 for university students.
Fairprice also collected a record number of 150,000 used textbooks this year, a 25 percent increase from last year. - CNA
Wait a sec, it claims to absorb the 2%... It could have actually been included in the cost... Just say say nia, things as ex as Cold Storage
Talking abt this, media is making big on this...
But then, we are in the end paying it indirectly (It may have been added in with the profit)