Advertisement
Singapore markets closed
  • Straits Times Index

    3,292.93
    -3.96 (-0.12%)
     
  • Nikkei

    38,236.07
    -37.98 (-0.10%)
     
  • Hang Seng

    18,475.92
    +268.79 (+1.48%)
     
  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     
  • Bitcoin USD

    63,824.89
    -73.24 (-0.11%)
     
  • CMC Crypto 200

    1,325.50
    +48.52 (+3.80%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • Dow

    38,675.68
    +450.02 (+1.18%)
     
  • Nasdaq

    16,156.33
    +315.37 (+1.99%)
     
  • Gold

    2,310.10
    +0.50 (+0.02%)
     
  • Crude Oil

    77.99
    -0.96 (-1.22%)
     
  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     
  • FTSE Bursa Malaysia

    1,589.59
    +9.29 (+0.59%)
     
  • Jakarta Composite Index

    7,134.72
    +17.30 (+0.24%)
     
  • PSE Index

    6,615.55
    -31.00 (-0.47%)
     

Internet and tablet for the poor at $6/month? That’s where Singapore telco fines are going

Singapore telco fines go towards funding low-income households’ technology
Singapore telco fines go towards funding low-income households’ technology

When 2013 ended, Singapore was leading the region in terms of internet penetration at 75 percent. Now, the government is looking to close the gap with the launch of a S$10 million (US$8 million) Digital Inclusion Fund yesterday. According to TODAYonline, the money has been set aside so that around 8,000 low-income households can have access to internet connectivity. Interestingly, it was reported that the initiative will be funded by fines levied on local telcos.

The fund will go towards supporting the Home Access program, in which households that earn less than S$1,900 (US$1,500) per month will be eligible for a basic computing device, as well as fibre broadband internet access for just S$6 (US$5) a month over a period of four years.

The Infocomm Development Authority of Singapore reportedly said that about 5,000 households would immediately pre-qualify for Home Access as they are currently on other existing government financial assistance schemes. The rest can apply through local self-help groups, such as the Yayasan MENDAKI, Chinese Development Assistance Council, and Singapore Indian Development Association, starting from April 2015.

See: Wikileaks: Singapore firm with government ties bought cyber snooping software

Editing by Terence Lee, image credit: Flickr user Kristina Alexanderson