11
-
MR MCGREGOR REITERATED THAT THE SALE OF RICE QUOTAS IS NOT PERMITTED AND IS NOT ACCEPTABLE TO THE CONNERCE AND RIDUSTRY DEPARTMENT.
+UHAT I TOLD A NEWSPAPER REPORTER,+ HE SAID, WAS THAT A QUOTA HOLDING COMPANY COULD BE BOUGHT ÖVER COMPLETELY AND THAT, PROVIDED THE COMPANY HAINTAINED ITS COMMERCIAL IDENTITY AND WAS ABLE TO SHOW THAT ITS RICE TRADE WOULD CONTILUE AS DEFONE, THERE VOULD PROCAELY DE NO ODJECTION FROM THE DEPARTMENT TO THE CONTINUATION OF THE RICE QUOTA ALLOCATION.
+1 SAID ALSO THAT THE SHAREHOLDING OF A RICE IMPORTING COMPANY COULD CHANGE FROM TIKE TO TIME WITHOUT BRINGING THE RICE QUOTA HOLDING INTO QUESTION.+
HR ICGREGOR SAID THAT HIS ALLEGED DEFENCE OF THE 38 RICE IMPORTERS HAD BEEN MUCH MISQUOTED AND NISUNDERSTOOD.+
HE CONTINUED: + DID NOT DEFEND THE ACTIONS OF RICE IMPORTERS
WHAT I DEFENDED WAS THE QUALITY OF DC AND I ADMINISTRATION OF THE RICE CONTROL SCHEME.
+I WILL STATE AGAIN MY BELIEF THAT, IN AN ABNORMAL AND SERIOUSLY INFLATIONARY INTERNATIONAL TRADING ENVIRONMENT DURING THE PAST SIX TO NIE KONTES, THE DEPARTMENT HAS TAKEN HIGHLY EFFECTIVE ACTION TO ENSURE A FULL AND ADEQUATE SUPPLY OF RICE TO THE FOUR MILLION CONSUMERS OF HONG KONG AT PRICES WHICH REFLECT A COMPETITIVE AND LIVELY MARKET.
+THE SPECULATION, HOARDING AND PROFITEERING WHICH OCCURRED EARLIER THIS YEAR VAS BROUGHT UNDER EFFECTIVE CONTROL BY THE CO.CE AND INDUSTRY DEPARTIENT -- NOT DY CHANCE OR THROUGH A HIT AND HISS APPROACH CUT TIROUGH THE GREAT GOOD FORTUNE OF EXPERTOISE AND INITIATIVE.+
ON TEXTILE CONTROLS, IR MCGREGOR SAID THAT THESE VERE FORCED UPON HONG KONG BY THE GOVERNMENTS OF OUR MAIN MARKETS. THE ALTHOMTIVE TO THE VAS IMPORT CONTROLS IN THESE COUNTRIES UHIGH COULD QUITE SERIOUSLY REDUCE OUR EXPORTS AND LEAD TO 'VERY GRZAT UNCERTAINTY IN HONG KONG'S INDUSTRY AND TRADE.
+VITHOUT THE ASSURANCE WHICH EXPORT CONTROLS IN HONG KONG PROVIDE, MANUFACTURERS AND EXPORTERS COULD 19T PLAN FORWARD,+ HE ADULD.
+FOR THE MANUFACTURER THIS WOULD BE A HOST SERIOUS, PREDICAMENT SINCE MUCH OF HIS FORCARD PLANNING, ESPECIALLY IN MACHINE REPLACEMENT, MIGHT LOOK TWO OR THREE YEARS AHEAD.+
KR MCGREGOR SAID THAT THE PRINCIPLE WHICH GOVERNS THE CALCULATION OF QUOTAS IS THAT THEY SHALL BE GIVEN TO THE COMPANIES WHICH DUILT UP THE TRADE IN THE RESTRAINED ITEM. THIS SEEMED FAIR AND EQUITABLE AND NOBODY HAD PRODUCED A BUTTER DASIS SO FAR.
THE PRINCIPLE .....