An honorable member of the Coffee Shop Has Just Posted the Following:
Hello to the Experts,..
Appreciate Your comments, rebuttals to this reply I got, from LTA,..
Quote,..
"Please allow us to clarify that
the sale of pre-owned cars are not regulated and are transacted based on a willing-buyer and willing-seller basis.
The Vehicle Quota System (VQS) that manages the growth of our vehicle population may not be perfect,
but it is the most efficient and transparent way to allocate the scarce Certificates of Entitlement (COEs).
We adopt an open bidding approach to allocate such a scarce, but non-basic, resource as the COE.
Through bidding, the price of the COE is determined by the demand for them, and COEs will be allocated to those who value them most.
The quota premium (QP) of motorcycle COEs, and of all other vehicles, is therefore an outcome of the market forces at work. "
Unlike public housing, education and basic healthcare,
it is not possible to treat car ownership as a basic need, given our country's circumstances.
Instead, most of the transport needs have to be met by our public transport system,
in which we are investing heavily to develop and improve. "
Unquote.
What do You think ?
Thanks
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