MOF may auction unclaimed vouchers
Updated: 2009-06-05 07:39
(HK Edition)
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TAIPEI: "The Ministry of Finance" (MOF) will consider whether to auction unclaimed shopping vouchers issued earlier this year in the effort to stimulate domestic spending.
Hwang Ding-fang, director-general of the MOF's "National Treasury Agency", made the remarks yesterday, during a question-and-answer session at a legislative committee meeting.
Legislator Lu Shiow-yen of the ruling Kuomintang asked what the government plans to do with the unclaimed shopping vouchers, noting that when the collection date expired at the end of April there were still around 130,000 sets of unclaimed vouchers.
Hwang said the sum of NT$500 million ($15 million) appropriated for the unclaimed shopping vouchers will be returned to the treasury, while the vouchers themselves will be destroyed in accordance with the law. However, Lu noted suggestions raised by some that the vouchers should be auctioned because it would be "a pity" to destroy them. It cost the Central Engraving and Printing Plant around NT$10 to print each set.
Lu said an auction also would save the cost of destroying the vouchers, and the proceeds of the auction could be paid into the government coffers or used to take care of the underprivileged.
Hwang responded that the suggestion was a very "creative" one, although "it lacked a legal basis". He promised to study the feasibility of the suggestion in collaboration with the Council for Economic Planning and Development.
The NT$85.7 billion consumption voucher program was among the measures the government initiated to prop up the sagging economy. Many commercial enterprises concurrently launched special promotions to draw consumers to redeem the vouchers at their establishments.
Every citizen of Taiwan and their overseas spouses were eligible to receive vouchers worth NT$3,600.
Regulations specify the vouchers must be exchanged for goods or services not later than September 30, 2009.
China Daily/CNA
(HK Edition 06/05/2009 page2)