Singapore braces for ‘hard times ahead’ as PM Wong warns of fallout from Iran war

SINGAPORE: After Prime Minister Lawrence Wong updated the country on what is being planned and put into action amid the fallout from the conflict in the Middle East, some Singaporeans online noted that the Government’s actions are in anticipation of hard times ahead.

The war, which began on Feb 28 when the United States and Israel started bombing Iran, quickly spread to several countries across the region. However, it has also caused an energy emergency due to the effective closure of the Strait of Hormuz, a chokepoint for 20% of the world’s energy needs. Asia, particularly Southeast Asia, has been hard-hit by the reduction in energy supply.

On the day the Prime Minister made his announcement, the price of oil went up again between 5% and 11% on April 2, after US President Donald Trump announced further military escalation, as market fears of supply shortages rose.

PM Wong sounded a warning concerning the disruption of fuel and a more unstable global environment, adding that a ministerial committee to coordinate a national response. Led by Coordinating Minister for National Security K Shanmugam and advised by Deputy Prime Minister Gan Kim Yong, the Homefront Crisis Ministerial Committee is not only updating contingency plans but also formulating new ones as the situation unfolds.

However, as PM Wong said that oil prices have risen by over 60% since the war began and that the supply may be disrupted even if there is a ceasefire, he reassured Singaporeans that steps are already being taken to diversify the city-state’s energy sources, and support measures for households and businesses are being rolled out to offset rising energy costs. He also called on businesses and households to do their part to conserve energy.

 “My fellow Singaporeans, I am sharing all this with you so that we can be prepared for what lies ahead. The situation is highly uncertain, and we cannot predict how exactly events will unfold. But the risks are significant, and the worst may not yet be behind us. 

Singapore cannot be insulated from such global upheavals – no country can, least of all a small island-nation like ours, but I assure you: we have the plans, the capabilities, and the resilience to navigate this together,” he said.

His speech may be found in full here.

What Singaporeans are saying

On social media, netizens are underlining the gravity of the situation.

“I take this as a sign that the G anticipates very challenging times ahead,” said a Reddit user. 

“If you see PM come on national TV with a sombre, serious-looking appearance, that means it’s not a good sign ahead,” wrote another.

A Facebook user, meanwhile, made this appeal: “We understand the risks of global energy disruptions, but please don’t let this translate into more cost increases for Singaporeans. Many are already struggling with rising living expenses, especially the lower-income and sandwich class. Beyond warnings, we hope the government will take proactive steps to cushion the impact.”

Another netizen, when reminded that lockdowns and the global crisis brought about by the Covid pandemic is barely in everyone’s rear window, wrote, “I’m tired of living through History In The Making bro. Can we just give it a rest?” /TISG

Read also: Is Singapore’s ‘kiasu-ness’ paying off in the global energy crisis? Redditor asks