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"Dissatisfaction among the public will grow with the increasing number of
old and weak workers and this will lead to a campaign to return to China or a social revolution. As a result, the ones who will be affected will be the employers,” the paper said.
In a second editorial, the paper said with the introduction of a central provident fund, workers would not have to worry about their livelihood at old age and that stability in the industrial circles would be secured.
"More importantly, workers will resist any outside political pressure that threatens to prevent them from enjoying their benefits," the paper said.
"We hope that various commercial and industrial organisations will write to
the authorities to make the proposal a reality," it added.
The paper further pointed out that it did not agree with a proposal for introducing seven days' paid annual holidays for workers and other benefits at this stage when Hong Kong had just experienced the worst economic recession of the past few decades.
MING PAO also wrote two editorials (October 29 and 30) on the proposal.
The paper said in principle, it supported the proposal noting that the setting up of a central provident fund would create a sense of belonging among the workers.
"But since Hong Kong has no minimum wage laws or a system in which wages are increased every year, employers will undoubtedly cut down the frequencies of pay rises after contributing towards the fund," the paper said.
It expressed doubt whether workers would be willing to set aside part of their wages, keep it as savings in the Government's coffers, and withdraw it on
retirement.
The HONG KONG DAILY NEWS (October 28), while welcoming the proposal, suggested that a minimum wage level be set up to stop employers from lowering the wage level when recruiting new staff.
KUNG SHEUNG EVENING NEWS (October 28) suggested that the Government and employers make equal contributions to the central provident fund for the good of
the workers.
SING PAO (October 29), sharing KUNG SHEUNG's view, said that response to the proposal was good and urged the authoritities not to hesitate in implementing it.