Keep calm and carry on, suggests Senior Minister of State for Trade and Industry Chee Hong Tat.
Or no amount of stockpiling will prove “enough”.
Now, while I’m hardly acquainted with the Senior Ministers of Singapore, I gotta say; Mr Chee makes a very valid point.
If we persist in our daily ‘panic buy’ routines, no amount of stockpiling will prove enough to satiate our hoarding thirst.
No amount whatsoever.
If S’poreans Keep Hoarding, S’pore Will Run Out Of Supplies ‘No Matter What’
According to The Straits Times, Senior Minister of State for Trade and Industry Chee Hong Tat has stated that no amount of “stockpiling” or “diversifying of supplies” will be able to safeguard Singapore from unexpected external shocks, if its residents refuse to “keep calm and carry on”.
The point was made on Wednesday (4 March) and serves as a response to Ms Tin Pei Ling (MacPherson) and Workers’ Party Non-Constituency MP Leon Perera.
Ms Tin reportedly inquired about the resilience of Singapore’s economy and supply chain in the light of the current coronavirus crisis; Mr Perera wished to know whether the Government has deliberated producing vital necessities like medical disposables as part of the economic defence.
While Mr Chee concedes that the Government does retain “some domestic supply of critical necessities to mitigate any overseas supply disruptions”, he added that panic buying would render all stockpiling efforts obsolete.
“If there is panic buying, no amount of stockpiling will be enough,” he said.
Stockpile
During peacetime, Singapore accumulates rice, personal protective equipment as well as pharmaceuticals.
The country also has “local manufacturing capabilities for items such as noodles and masks”.
According to Mothership, the government adopts a “four-pronged stockpile strategy” which comprises of the following steps:
- Ensuring that Singapore has sufficient stock (national stockpile), including food items that can last a long time
- Diversifying our food sources
- Developing local production capabilities
- Collaborating with trusted regional partners to secure supply lines
Back in 2014, the MOH stated that it had gathered a national stockpile of antiviral drugs to act against influenza pandemics.
And just recently, the Ministry of Health claimed that we have 16 million N95 masks in our stockpile.
But like what our dearest minister said, all these won’t be enough if Singaporeans go crazy.
Just do the math:
16 million masks. We have about 5.9 million people. Just each person going crazy trying to buy 5 masks will wipe the entire supply out. Capiche?
Economic Diversification
On a side note, those worried about Singapore’s economy being affected by the Coronavirus outbreak can take a breather; it seems that our government has long since taken the necessary precautions.
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Economic diversification, for one, has allowed Singapore to mitigate the risks that come with an increasingly globalised world, as well as worldwide crises like the COVID-19.
Even as the COVID-19 outbreak obliterates the tourism and transport sectors, other sectors such as construction, information and communications are predicted to improve and hold up the overall economy.
“When something happens in one of the major economies… there will definitely be an impact on Singapore,” Mr Chee said.
A sufficiently diversified set of supply, sources and markets, however, will help the country “ride through these ups and downs in a more robust and resilient manner”.
Basically, it’s like when you’re studying, you can give up on Math to focus on Science. Not advisable, though.
Practice Sensible Buys, Not Panic Buys
Panic buys might be the latest trend in town, but let’s face it; they’re not gonna be a sustainable act.
So instead of hoarding a whole load of materials for your entire lifetime, why not take a step back and see the bigger picture?
By practising a sensible policy of buying things, you’re not just helping Singapore’s stockpile efforts; you’re also making sure that those who genuinely need supplies will be able to get them.
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