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SG60 and CDC vouchers are to support heartland merchants (half of it anyway)
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If they let you withdraw in cash, how will they ensure you spend it at the merchant and boost Singapore economy ๐
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If it's meant to be cash, govt will give cash instead of voucher (just like GST voucher). One can try to find loophole and get into trouble hence not recommended. See those that wanted to change vouchers to cash on carousell (hmmm, I just wonder if Govt would ban these ppl from getting vouchers in future, probably it will then really deter this behavior).
Like the rest have mentioned, the vouchers is also meant to drive spending in neighbourhood shops/hawker which I feel it's a smart and thoughtful move.
Also if we think abt it, vouchers (unlike hard cash) cannot be used to do certain things - e.g. gamble...