Date:
Time:
Reporter:
28.11.86
8.30
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12.30
PMS
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is HK$8 million, of providing a provision of these facilities, but
it is amazing that no reference to this policy is mentioned and I
am sure it was mentioned, and I am sure at that time if it was
mentioned it was the Government's policy for the developers to bear
the cost of GIC in private development projects, I am not sure
whether the Finance Committee will agree to pay that HK$8 million.
Do you understand what I am saying?
SLW:
Oh, I understand very well, Mr Lee, I understand very well. I don't know. I wouldn't like to anticipate
what the Finance Committee might have done.
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CHAIRMAN:
Well, I think what bothers me, there was
no mentioning of this particular policy, that the developer should bear the cost, it is a policy that the developer should bear the cost. And if it was I wonder whether you would get the HK$8
17 million or not.
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ect.
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SLW:
I certainly wonder that, too.
CHAIRMAN:
Yes.
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MR POON:
May I just revert to this particular case.
You were talking about the HK$8 million waiver of GIC facilities.
Now I have two questions. The first, would you not agree that this
massive project eventually actually produced a tremendous profit,
that HK$8 million would be a very small proportion of the cost and
that shouldn't upset his decision. The second point is that the developer would be the best person to provide GIC facilities at minimal cost to the public and I think that is the original policy
which I think is still valid.
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SLW:
Well, in terms of actual provision, in
terms of construction, of course the developer did in fact construct
them or is constructing them now. I mean, it was all
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