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Governments hit jackpot with public interest lottery

Accumulated profits from the computerized public interest lottery had reached NT$34.06 billion (about US$1 billion) as of the end of March, according to statistics released yesterday by the Ministry of Finance.

The lottery has enjoyed brisk sales since its inauguration in January 2002.

According to lottery regulations, 50 percent of the profits are distributed to local governments for social welfare programs and charitable activities; 45 percent is reserved for the national pension system; and the remaining 5 percent is deposited as national health insurance reserves.

Under the terms of this distribution formula, city and county governments around the country have received a total of more than NT$17.02 billion from lottery profits; the Ministry of the Interior has obtained NT$15.32 billion to be reserved for the planned national pension program; and the Bureau of National Health Insurance has received some NT$1.7 billion.

Under the lottery statute, 15 percent of the profits for local governments should be evenly distributed among the cities and counties, while the remaining 85 percent should be dispensed in terms of population density and lottery sales records.

As a result, Taipei County -- the country's most populous district -- has received the most, at NT$2.65 billion; followed by Taipei City, at NT$2.33 billion; Taoyuan County, at NT$1.39 billion and Kaohsiung City, at NT$1.05 billion. All other cities and counties have received less than NT$1 billion each.
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