3
Mr. Ngai
asked in Cantonese :
(The following is the interpretation of his question.)
Sir, I agree with the Financial Secretary's views about free market
economy and free competition and non-interference with oil prices
This I can accept and understand. But let's look at the fluctation
of oil prices. Even though it has been explained that they get their
oil from different sources every time they adjust their prices,
they act together and the percentage is more or less the same. Even
though they do not seem to be monopolising the situation, they are
actually enjoying the monopolistic position. This is far from
free competition.
Hong Kong for a lot of industries. If we allow the situation to
continue, not only will it be greatly detrimental to consumers in
Hong Kong but it will also affect the competitiveness of Hong Kong
products in foreign markets. Therefore under such circumstances
At the same time oil products are necessary in
can the Government try, now I am not talking about interfering
or
trying to control them, but can the Government do something to improve
the situation because this is definitely not free competition or free
market?
Financial Secretary: Sir, as I do not agree with Mr. Ngai about free
competition or free market, I can hardly help it. It is the policy
of this Government to rely on the market place where it can do so.
I have no doubt, however, that the oil companies also will note the
cause of this debate.
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