What is the Committee Against Profiteering (CAP)?
The CAP was reconvened on 16 March 2022, to investigate feedback on unjustified price increases of essential products and services that use the Goods and Services Tax (GST) increase as a cover.
The CAP was first set up in 1994 with the introduction of GST. It was reconvened during previous rounds of GST increases in 2003 and 2007. The present committee is chaired by Minister of State for Trade and Industry Ms Low Yen Ling and comprises Members of Parliament (MPs), and representatives from the industry and grassroots organisations.
Members of the CAP
1. Ms Low Yen Ling, Minister of State for Trade and Industry
2. Ms Elaine Heng, Deputy Group CEO and CEO (Retail Business), NTUC FairPrice Group
3. Mr Hong Poh Hin, Chairman, Foochow Coffee Restaurants and Bar Merchants Association
4. Mr Ernie Koh, President, Singapore Retailers Association
5. Mr Kok Ping Soon, CEO, Singapore Business Federation
6. Mr Andrew Kwan, President, Restaurant Association of Singapore
7.Mr Lim Hock Chee, CEO, Sheng Siong Group
8. Mr Loh Wee Lee, Group Chief Digital Officer, DFI Retail Group
9. Ms Hazel Poa, Non-Constituency Member of Parliament
10. Mdm Amatul Jameel Suhani, Chairperson, People’s Association Malay Activity Executive Committees Council
11.Mr David Tan, President, Singapore Food Manufacturers’ Association
12.Mr Yeo Hiang Meng, President, The Federation of Merchants’ Associations, Singapore
13.Mr Melvin Yong, President, Consumers Association of Singapore
What does the CAP do?
The CAP focuses on essential food items commonly consumed or used by Singaporean households, such as eggs, chicken, vegetables and meals from hawker centres and coffee shops, as well as non-food essentials like household products. It will review and investigate feedback on unjustified price increases of essential products and services that use the GST increase as a cover.
The CAP will not add any regulatory burden on businesses. Its role is to strengthen transparency and enable free market competition to function as it should.
How does the CAP carry out an investigation?
The CAP will work with partner agencies and organisations, including the Competition and Consumer Commission of Singapore (CCCS), the People’s Association (PA) and the Consumers Association of Singapore (CASE), to assess the feedback provided on an unjustified price increase and engage with the relevant business where necessary.
As part of the investigation process, the CAP will evaluate the explanations provided by the business for the price increase, to determine if it constitutes profiteering on the GST increase. The CAP may make public errant businesses that seek to profiteer on the pretext of rise in GST.