5. IT Y K Pao is in the mood he seems to be then we may perhaps be close to a viable proposition. The DTT's idea is that they should refine their own proposal, and then, if their Minister agrees, put it to you as a firm proposition on the basis of which the Hong Kong shipowners would be asked to make a pledge of tonnage to be transferred. We will keep our fingers crossed.
[Copy: Mr Archer DTI]
Yours ive
A C Stuart
Hong Kong & Indian Ocean Department
CONFIDENTIAL
LZ