1
13
the Finance Committee).
For 1984-85 the estimated
payment on loan for public housing is $1,863 million.
24.
As regards the development of rail transport,
substantial capital investments are made by the
Mass Transit Railway Corporation (MTRC) and the
Kowloon-Canton Railway Corporation (KCRC).
25.
In the case of the MTRC, the Government
purchases equity in the Corporation to provide working
capital and to enable the Corporation to pay for
rates and land premium for sites required for
railway-related non-commercial development.
The
total equity purchased as at 1 May 1984 is $5,174 million.
26.
As regards the KCRC, on its incorporation
on 1 February 1983, Government transferred to the
Corporation land, buildings and assets assessed
at a total value of $1,897 million. It is estimated
that works in progress, at an estimated value of
$2,226 million, will on completion be transferred
to the Corporation, bringing KCRC's assets to a total
value of $4,123 million. Against this total,
Government assumes that KCRC owes the Government only
the sum of $923 million.
Taking this $923 million