The Ministry of National Development announced on 23 January 2017 that all town councils will have to set aside 14 per cent of their service and conservancy charges for lift replacements. This percentage is on top of the minimum of 26 per cent that has to be contributed to the general sinking fund.
The Ministry also said that it will increase the S&CC operating grants and provide additional grants to help cover the costs.
The Housing Development Board (HDB) had previously announced in September 2016 that a new $450 million Lift Enhancement Programme will help fund the cost of upgrading older lifts in public housing estates.
Related news on LEP:
LEP to benefit 20,000 lifts
PAP Town Council to set aside $45 million for lift upgrades
