subsidy

THE Chief Executive of the Macao Special Administrative Region (SAR) Edmund Ho Hau-wah announced Tuesday that residents of the SAR would receive 2 billion patacas (US$250 million) in July to offset the effects of rising inflation, the Macao Daily reported yesterday.

Permanent residents will each receive 5000 patacas, and non-permanent residents will each get 3000 patacas.

Additionally, the SAR government will provide housing subsidies, requiring developers of small public projects to employ local workers, stabilize rice prices, build more low-cost housing and establish a minimum wage.

Ho also announced a freeze on new gaming licenses and land allocations for fresh casinos. Slot machines will be moved out of housing communities and gambling agencies' commission rates will be standardized.

(Wang Yuanyuan)