Japan eyes extending deadline of eco-subsidies

Some Japanese Cabinet ministers said the government is considering extending the deadlines of its subsidy programs for people purchasing environment-friendly appliances and vehicles as it is hoped that the stimulus policies will help lift the Japanese economy out of recession. Environment Minister Tetsuo Saito told reporters he had asked Finance Minister Kaoru Yosano to agree to his proposal to extend the fiscal 2009 deadline. In a separate press conference, Economy, Trade and Industry Minister Toshihiro Nikai called on carmakers to increase their output of the vehicles, including Toyota Motor Corp.’s Prius gasoline-electric hybrid, in order to meet growing demand from consumers who want to benefit from the discount program. Nikai said it is feared that consumers will not benefit sufficiently from the subsidy program as they may not receive their new vehicles before the program expires at the end of next March due to the slower output by manufacturers during this economic downturn. The industry minister said automakers are hoping the deadline will be extended. (July 24, 2009)