With the presidential election around the corner, I found myself curious about exactly why we have a President in the first place. I mean, I'm not complaining: Free public holiday! But jokes aside, it's good to know why we're even voting for a President at all. So here's the lowdown on what our President does. The short answer: The position...
With the presidential election around the corner, I found myself curious about exactly why we have a President in the first place. I mean, I'm not complaining: Free public holiday!
Upon our independence in 1965, Yang-di-Pertuan Negara was renamed Office of the President and retained with a largely ceremonial role, with the President appointed by Parliament for a term of four years at a time. Well, if members of the Government make important decisions that aren't in Singapore's best interest , the President can override these decisions without the Government's permission.
What are these reserves, you ask? They come in the form of both physical assets like land and buildings, as well as financial assets like cash, securities and bonds. To make sure that these reserves aren't wasted and are only used when necessary, the President's approval is needed before withdrawals can be made.
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