KATHMANDU: Singapore Prime Minister Lawrence Wong is set to receive a significant salary increase, with his annual compensation package rising from 2.2 million Singapore dollars to approximately 3.6 million Singapore dollars. This adjustment represents an increase of more than 60 percent. The government maintains that high salaries are necessary to attract talented individuals into politics and to deter corruption.
Wong stated that he will donate the additional income generated from this pay rise to charitable organizations over the next five years. The government argues that it is difficult to persuade high-level professionals from the private sector to pursue political careers, and that financial barriers should not prevent capable people from serving. Under the new salary structure, the base pay for government ministers has also increased from 1.1 million to 1.2 million Singapore dollars. Depending on performance metrics, including unemployment rates, income growth, and gross domestic product (GDP), a minister’s annual earnings could reach up to 1.35 million Singapore dollars.
The decision has faced criticism within Singapore. Critics argue that the move is insensitive to public concerns regarding the rising cost of living, job security, and employment opportunities for new graduates. Currently, the average monthly income in Singapore is 5,775 Singapore dollars. Following this increase, Wong’s salary remains significantly higher than that of other world leaders. For comparison, the Chief Executive of Hong Kong earns approximately 719,000 US dollars, while the US President receives 400,000 US dollars annually.
