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policy was laid down long ago in 1993, and it is now time for us to make a comprehensive review because market management has brought about a number of problems for the Council. We are aware of this.
Mr. Joseph Chan YUEK-SUT (in Cantonese): The Chairman of the Select Committee has not fully answered the points raised in my second question. Let me repeat them here. How many IHL holders are there? How many stalls are reserved each year for them to choose from? Do the numbers match? Is this a suitable arrangement?
MR. IP KWOK-CHUNG (in Cantonese): I cannot give exact figures off hand, but I can say there are still over 1000 IHL holders. Speaking of numbers, the market stalls we can now offer should solve the problem. However, as some Members have pointed out, certain stalls are not suitable for operation or we call them 'dead stalls' and IHL holders will not choose them. We have another arrangement to offer an ex-gratia payment of $30,000 to each IHL holder who gives up the right to a stall. It is an option for IHL holders. If IHL holders accept the latter arrangement, we believe the policy to fade out IHL holders can be implemented.
CHAIRMAN (in Cantonese): We have spent half an hour discussing this. 4 other Members have registered to ask questions. I hope today's discussion on this will end after the four questions. I think it is more appropriate to discuss other points on policy change or adjustment at meetings of the Markets and Street Traders Select Committee.
MR. STANLEY NG WING-FAI (in Cantonese): I have two follow-up questions, one on the report of the Audit Department and the other on market rental.
Concerning the report by the Director of Audit, I wonder if the Chairman of the Select Committee agrees that the Audit Department has taken half a year and yet the translated version of the report is still not ready. In fact, the Council has suffered over $110 million of loss rental income over the past three years. I think there is need for the Director of Audit to improve work efficiency, especially over translation work.
The second follow-up question concerns the direction towards market privatization. In fact, as a market operator, when a stall is found difficult to be leased out, it should be converted for another use, say as a storeroom. Upon evaluation towards market privatization, unwanted properties or goods or unleased space should be rated zero, meaning valueless. Maybe in considering privatization, we should appoint private evaluators or management staff to assist in the handling of vacant 'dead stalls' or difficulties in leasing stalls out.
MR. IP KWOK-CHUNG (in Cantonese): Mr. Ng's first question has to do with the Audit Department. I leave it to you to consider. I am not going to
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