THURSDAY, JULY 11, 1974
FURTHER MODIFICATIONS TO RICE CONTROL SCHEME
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A NUMBER OF MODIFICATIONS ARE BEING MADE TO THE RICE CONTROL SCHEME IN THE LIGHT OF RECOMMENDATIONS RECEIVED FROM THE CONSUMER COUNCIL, THE DIRECTOR OF COMMERCE AND INDUSTRY, MR. DAVID JORDAN, ANNOUNCED TODAY.
HE SAID THAT A DETAILED REPLY HAD BEEN SENT TO THE CONSUMER COUNCIL IN ANSWER TO ITS RECOMMENDATIONS. +WE HAVE FOUND IT VERY HELPFUL TO HAVE THE VIEWS OF THE COUNCIL ON A SUBJECT WHICH IS OBVIOUSLY OF GREAT CONCERN TO EVERYONE IN HONG KONG,+ HR. JORDAN COMMENTED.
+BEFORE RECEIVING THE COUNCIL'S RECOMMENDATIONS WE HAD, OF COURSE, ALREADY TAKEN A NUMBER OF EFFECTIVE STEPS TO IMPROVE THE OPERATION OF THE RICE CONTROL SCHEME AND OTHERS WERE UNDER EXAMINATION.
+IT WAS OPPORTUNE, THEREFORE, FOR THE COUNCIL TO BRING TO THE GOVERNMENT'S NOTICE ITS VIEWS ON THE SCHEME, AND OFFER SUGGESTIONS AS TO HOW IT COULD BE FURTHER IMPROVED.
+WE WERE VERY GLAD TO SEE THAT THE COUNCIL'S FIRST CONCLUSION WAS THAT THE RICE SUPPLY SCHEME HAS ACHIEVED ITS PURPOSE OF ENSURING AN ADEQUATE RICE STOCK OVER THE LAST 19 YEARS AND HAS THEREFORE BEEN PROPERLY AND EFFICIENTLY ADMINISTERED BY THE COMMERCE AND INDUSTRY DEPARTMENT.
+WE HAVE CAREFULLY EXAMINED THE COUNCIL'S PROPOSALS, AND AS A RESULT THE SCHENE WILL BE MODIFIED IN A NUMBER OF WAYS TO ENSURE THAT IT CONTINUES TO SERVE THE BEST INTERESTS OF THE CONSUMER.+
MR. JORDAN SAID THAT THE GOVERNMENT ACCEPTED THE SUGGESTION THAT THE STOCK SHOULD IN NORMAL CIRCUMSTANCES BE MAINTAINED AT 60,000 TONS, BUT THAT IT MAY BE NECESSARY ON OCCASIONS TO EXCEED THIS FIGURE TO ENSURE THAT HONG KONG HAS AN ADEQUATE SUPPLY DURING PERIODS WHEN CROP FORECASTS ARE UNCERTAIN.
HE POINTED OUT THAT EVEN WHEN THE STOCK IS 100,000 TONS, THE TOTAL COST OF STORING AND INSURING THIS STOCK, TOGETHER WITH BANK CHARGES WOULD AMOUNT TO 10 CENTS PER CATTY AT THE RETAIL END, COMPARED WITH SIX CENTS PER CATTY WITH A STOCK OF 60,000 TONS.
MR. JORDAN SAID THAT THE GOVERNMENT VELCOMED THE COUNCIL'S SUPPORT FOR RETAINING MAXIMUM PRICE MARK-UPS BY LIPORTERS, WHOLE- SALERS AND RETAILERS. +THE EFFORTS OF THE DEPARTMENT WILL BE APPLIED TO ENSURING A REASONABLE BALANCE BETWEEN A FAIR PROFIT MARGIN FOR TRADERS AND A FAIR RETAIL PRICE FOR CONSUMERS,+ MR. JORDAN ADDED.
HE SAID
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