Since the introduction of the Save & Invest Account in 1999, 52 bureaux / departments have made a total of 125 withdrawals amounting to $185 million from this Account. The following is a breakdown of how the Save & Invest Account has been used up to end October 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
46
80,383
(b) Environment-related
4
12,489
(c) Education-related
0
0
(d) Others
2
1,720
2. Consultancy studies or Hire of service
(a) IT-related or improvement to office operation
17
23,089
(b) Environment-related
7
7,870
(c) Education-related
1
1,700
(d) Others
8
6,004
3. Contracting out or employment of Non-civil service contract staff
(a) IT-related or improvement to office operation
12
20,995
(b) Environment-related
1
480
(c) Education-related
2
1,872
(d) Others
4
9,680
4. Seminars, training, exhibitions or publicity programmes
(a) IT-related or improvement to office operation
7
8,711
(b) Environment-related
3
3,035
(c) Education-related
7
5,147
(d) Others
2
910
5. Others  
2
550
Total
  
125
184,635
 

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-October 2001 the balance on the "Save & Invest Account" stood at $915 million including $525 million credited in 2000-01.

32 bureaux / departments have yet to make withdrawals from their individual Save & Invest accounts and their accumulated undrawn balances amounted to $101 million, or 11% of the total balance. Out of the unused balance of $101 million, $16 million will lapse on 31 March 2002, $45 million will lapse on 31 March 2003 and $40 million will lapse on 31 March 2004.

Finance Bureau
October 2001

 

 

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