Promoting Green vehicles through COE

I disagree that it is not possible to promote green vehicles by using the current COE quota system. Under the current Green Vehicle Rebate (GVR) scheme, owners of green vehicles can enjoy the following rebates:

Electric and Petrol-Electric Hybrid Vehicles (GVR applicable until 31 Dec 2012)

• Rebate equivalent to 40% of the vehicle's Open Market Value (OMV) for electric and petrol-electric hybrid passenger cars, 
• 5% of the vehicle’s OMV for electric and petrol-electric hybrid buses and commercial vehicles, and 
• 10% of the vehicle’s OMV for electric motorcycles. 

CNG and Bi-fuel (CNG/Petrol) Vehicles (GVR applicable until 31 Dec 2011)

• Rebate equivalent to 40% of the vehicle's Open Market Value (OMV) for CNG and Bi-fuel (CNG/Petrol)passenger cars, and 
• 5% of the vehicle’s OMV for CNG and Bi-fuel (CNG/Petrol) buses and commercial vehicles.

Why don't the government just extend this rebate to the price of the COE? By doing that, it is still staying true of the objective of using the COE quota system to control the number of vehicles on the road, and yet encourage the use of green vehicles on the road, thus greening the Singapore environment. This will also send the correct message to the public that the COE system is not for the purpose of collecting revenue but it is truly to control the number of vehicles on the roads, and in this case, the type of vehicles.

This will definitely promote the use of green vehicles in Singapore because like it or not, Singaporeans are forever cost sensitive. WIIFM.