NTUC FairPrice Foundation Contributes S$1.5 million to Help Needy Cope with Rising Cost of Living
Contribution is part of the FairPrice Million Dollar Food Voucher Scheme
Today (20 July, 2008), NTUC FairPrice Foundation, a registered charity 100 percent funded by NTUC FairPrice, presented S$1.5 million worth of FairPrice vouchers, under the FairPrice Million Dollar Food Voucher Scheme, to help needy families all across Singapore cope with the impact of rising cost of living.
To mark the occasion, NTUC FairPrice Chairman Mr Ng Ser Miang, who is also Chairman of NTUC FairPrice Foundation, presented a cheque representing S$1.5 million worth of FairPrice vouchers to Prime Minister Lee Hsien Loong at the Racial Harmony [email protected] Kayu. Prime Minister Lee was present to grace the event as the Guest-of-Honour.
Mr Ng said, “The rising cost of living is a concern to many in the community. As a social enterprise, NTUC FairPrice has been moderating the cost of living by setting benchmark prices. To reach out to those who need a helping hand, NTUC FairPrice Foundation is contributing $1.5 million worth of FairPrice vouchers to help needy families cope with rising cost of living. These vouchers will be distributed to the community under the FairPrice Million Dollar Food Voucher Scheme.”
Over the years, the FairPrice Million Dollar Food Voucher Scheme has served as a helping hand to those in need. Last year, FairPrice contributed $1 million worth of FairPrice vouchers under this scheme to help needy families cope with the GST increase. This year, NTUC FairPrice Foundation is contributing half a million more with a total of $1.5 million vouchers, so that more families in the community can benefit.
The NTUC FairPrice vouchers will be distributed to the poor and needy mainly through the advisers of the grassroots organisations (GROs), with some vouchers being set aside for selected welfare organisations. Mr Wee Siew Kim, MP for Ang Mo Kio GRC, was the first to receive S$12,000 worth of NTUC FairPrice vouchers for distribution to the needy in the Jalan Kayu community.
Since its inauguration in March this year, NTUC FairPrice Foundation has helped various beneficiaries such as Community Chest and Food From The Heart. NTUC FairPrice has pledged to donate $50 million to NTUC FairPrice Foundation over the next 10 years as part of its longstanding commitment to corporate philanthropy.
Appendix: About the FairPrice Million Dollar Food Voucher Scheme
The Million Dollar Food Voucher Scheme was first launched in June 2002 to help needy families in Singapore. The food vouchers were distributed to the beneficiaries through the Community Development Councils and Citizens’ Consultative Committees in Singapore.
In 2003 in view of the lull economy which was further worsened by the SARS outbreak, FairPrice again gave $1 million vouchers via the CDCs and CCCs to help the poor and needy. In the same year, another S$1 million worth of FairPrice vouchers were given out to specifically help needy union members.
In conjunction with FairPrice’s pledge to absorb the 2% GST increase for more than 400 essential items for six months starting February 2007, the Million Dollar Food Voucher scheme was once again implemented on 22 July 2007. Vouchers were distributed to the needy families through grassroots organisations (GROs) and selected welfare organisations.
This year, in light of rising food costs, NTUC FairPrice Foundation will be contributing $1.5 million in vouchers towards the NTUC FairPrice Million Dollar Scheme, in aid of the poor and needy. With this contribution, the NTUC FairPrice Million Dollar Voucher Scheme has given $5.5 million vouchers in total to the community.