By Fawwaz Baktee
NTUC FairPrice, NTUC Foodfare, NTUC Health and NTUC Income have joined forces to launch a $35 million initiative comprising reduced prices on daily essentials, cooked food, health products and insurance plans. The launch on 8 July 2015 took place at the NTUC Foodfare outlet in Kallang Wave Mall.
The ’Big Value Bag: Made for Singapore’ initiative will run for six months, starting from July till end December 2015.
Offers will be available at all NTUC FairPrice supermarkets and hypermarkets, NTUC Foodfare outlets, NTUC Unity Pharmacy outlets and NTUC Income branches.
The initiative was specially designed for all segments of Singapore’s population such as low-income, Professionals, Managers and Executives (PMEs) and the elderly.
NTUC Enterprise said that through the initiative, it aims to cut daily expenses and make living more affordable; give more to the community and help them “stretch the dollar”; make a difference and help those who need it most; and help Singaporeans be proud of being part of the nation.
Non-Profit Driven
NTUC Enterprise also mentioned that unlike commercial businesses, its social enterprises are not driven by profit and are willing and prepared to accept lower profit margins with this initiative.
NTUC Secretary-General Chan Chun Sing said: “NTUC social enterprises are professionally run and mission oriented to deliver social outcomes. Hence, while they aim to achieve sustainability for their businesses, they will not maximise profit as an end itself. Instead, they pump profits back into the businesses as well as create greater value for their customers.”
Around 100 underprivileged Singaporeans, made up of senior citizens, homemakers and children were also invited to the launch.
“I usually set aside money to buy essential items each month. Sometimes when we’re short of money, I’d have to forego buying some items for that month. This initiative will help ease the financial burden on my family,” said 34-year-old housewife Farhana Daud.
Source: NTUC This Week
