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HR MCGREGOR REITERATED THAT THE SALE OF RICE QUOTAS IS NOT PERMITTED AND IS NOT ACCEPTABLE TO THE COMMERCE AND NDUSTRY DEPARTMENT.
+UHAT TOLD A NEUSPAPER REPORTER,+ HE SAID, +WAS THAT A QUOTA HOLDING COMPANY COULD DE DOUGHT OVER COMPLETELY AND THAT, PROVIDED THE COMPANY HAINTAINED ITS COMMERCIAL IDENTITY AND WAS ABLE TO SHOW THAT ITS RICE TRADE WOULD CONTINUE AS DEFORE, THERE WOULD PROBABLY DE NO CDJECTION FROM THE DEPARTMENT TO THE CONTINUATION OF THE RICE QUOTA ALLOCATION.
+I SAID ALSO THAT THE SHAREHOLDING OF A RICE IMPORTING COMPANY COULD CHANGE FROM THE TO TIME WITHOUT BRINGING THE RICE QUOTA HOLDING LITO QUESTION.+
MR MCGREGOR SAID THAT HIS ALLEGED DEFENCE OF THE 38 RICE IMPORTERS HAD BEEN +UCH HISQUOTED AND MISUNDERSTOOD.+
KE CONTINUED: +1 DID NOT DEFEND THE ACTIONS OF RICE IMPORTERS ...... WHAT I CEFENDED VAS/THE QUALITY OF DC AND I ADMINISTRATION OF THE RICE CONTROL SCHENE
+1 WILL STATE AGAIN MY BELIEF THAT, IN AN ABNORMAL AND SERIOUSLY INFLATIONARY HITERNATIONAL TRADING ENVIRONMENT DURING THE PAST SIX TO NINE MONTHS, THE DEPARTMENT AS TAKEN HIGHLY EFFECTIVE ACTION TO ENSURE A FULL AND ADEQUATE SUPPLY OF RICE TO THE FOUR MILLION CONSUMERS OF HONG KONG AT PRICES WHICH REFLECT A COMPETITIVE AND LIVELY HARKET.
+THE SPECULATION, HOARDING AND PROFITEERING WHICH OCCURRED EARLIER THIS YEAR WAS BROUGHT UNDER EFFECTIVE CONTROL BY THE COMMERCE AND NOUSTRY DEPARTIZHT -- NOT BY CHANCE OR THROUGH A HIT AND HISS APRIDACH CUT FIROUGH THE GREAT GOOD FORTUNE OF EXPERIEICE AND NIPTIATIVE,+
ON TEXTILE CONTROLS, IR MCGREGOR SAID THAT THESE VERE FORCED UPON HONG KONG BY THE GOVERNMENTS OF OUR MAIN MARKETS. THE ALTERNATIVE TO THAT WAS IMPORT CONTROLS IN THESE COUNTRIES UNICH COULD QUITE SERIOUSLY REDUCE CUR EXPORTS AND LEAD TO 'VERY GREAT UNCERTAINTY IN HONG. KONG'S INDUSTRY AID TRADE.
WITHOUT THE ASSURANCE WHICH EXPORT CONTROLS IN HONG KONG PROVIDE, MANUFACTURERS AND EXPORTERS COULD NOT FLAN FORWARD,+ HE ADDED.
+FOR THE MANUFACTURER THIS WOULD BE A MOST SERIOUS PREDICAMENT SINCE MUCH OF HIS FORUAND PLANNING, ESPECIALLY IN MACHINE REPLACEMENT, MIGHT LOOK TWO OR THREE YEARS AHEAD.+
HR MCGREGØR SAID THAT THE PRINCIPLE WHICH GOVERNS THE CALCULATION OF QUOTAS IS THAT THEY SHALL BE GIVEN TO THE COMPANIES WHICH BUILT UP THE TRADE IN THE RESTRAINED ITEM. THIS SEEMED FAIR AND EQUITABLE AND NOBODY HAD PRODUCED A BEYTER DASIS SO FAR.
THE PRINCIPLE