Since the introduction of the Save & Invest Account in 1999, 39 bureaux / departments have made a total of 78 withdrawals amounting to $107 million from this Account. The following is a breakdown of how the Save & Invest Account has been used up to end May 2001 :

Approved applications
No. of withdrawals
Amount
($'000)
Type
Nature
1. Procurement or replacement of plant/equipment
(a) IT-related or improvement to office operation
28
45,152
(b) Environment-related
2
9,400
(c) Education-related
0
0
(d) Others
1
120
2. Consultancy studies or Hire of service
(a) IT-related or improvement to office operation
13
19,375
(b) Environment-related
7
7,870
(c) Education-related
1
1,700
(d) Others
2
2,100
3. Contracting out or employment of Non-civil service contract staff
(a) IT-related or improvement to office operation
8
11,454
(b) Environment-related
0
0
(c) Education-related
2
1,872
(d) Others
2
1,130
4. Seminars, training, exhibitions or publicity programmes
(a) IT-related or improvement to office operation
3
1,730
(b) Environment-related
1
250
(c) Education-related
7
5,147
(d) Others
0
0
5. Others  
1
50
Total
 
78
107,350
 

 

The balances credited into the "Save & Invest Account" are valid for three years from the date of credit. That is, savings credited in 1998-99 will lapse on 31 March 2002. At end-May 2001 the balance on the "Save & Invest Account" stood at $467 million. 45 bureaux / departments have yet to make withdrawals from their individual Save & Invest accounts and their accumulated undrawn balances amounted to $247 million, or 53% of the total balance. Out of the unused balance of $247 million, $69 million will lapse on 31 March 2002 and $178 million will lapse on 31 March 2003. We encourage Controlling Officers to make full use of the account. Colleagues in the Finance Bureau stand ready to facilitate your applications.

Finance Bureau
July 2001

 

 

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