MACAO - The government of Macao Special Administrative Region (SAR) started paying its 2011 cash handout to Macao residents from Tuesday, with senior residents receiving the cash first, according to a notice published in the Official Gazette.
Holders of valid or renewable Macao SAR Resident Identity Card on December 31, 2010 are entitled to receive the cash handouts, the notice said. Permanent and non-permanent residents will get 4,000 patacas ($500) and 2,400 ($300) in cash respectively.
The so-called wealth-sharing scheme, launched by then Chief Executive of Macao SAR Ho Hau Wah in 2008, is aimed at easing living pressures of Macao residents. As usual, senior residents will receive their cash first, followed by other residents.
According to the notice, local residents born in or before 1954 will receive their cash handouts before the Lunar New Year.
The whole payout process will last over ten weeks, with the last cheques to be sent out in the final week of March, the notice said.
Meanwhile, the SAR government sets up Support Center for Wealth Partaking Disbursement with an effort to cope with the implementation of the scheme. The Center, which opens on Tuesday, is equipped with staff and a hotline to handle and entertain enquiries related to the scheme, as well as to help solving other problems.
This year's scheme will cost the government 2.34 billion patacas ($29.25 million) this year, representing 2.9 percent of the 2011 budget.