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TUESDAY, AUGUST 20, 1974
SECONDLY, THE JAPANESE BID WAS SUBJECT TO A DEADLINE FOR ACCEPTANCE WHILE THE BIDS OF THE OTHER TUO CONSORTIA WERE NOT.
MR. HADDON-CAVE DESCRIBED THE GOVERNMENT'S ACCEPTANCE OF THE JAPANESE BID AS NOT AN EASY DECISION TO REACH.+
HE EXPLAINED THAT WHILE ACCEPTANCE OF THE BID WOULD ENSURE AN EARLY START AT A KNOWN COST WITH THE GOVERNMENT'S PRICE CEILING AND WOULD RESULT IN A FINANCIALLY VIABLE PROJECT, THE INSISTENCE ON A GOVERNMENT GUARANTEE VOULD HEAN THAT THE COVERNMENT WOULD HAVE TO UNDERWRITE THE CEDT REPAYMENT.
+THIS,+ HE SAID, +COULD HAVE SERIOUS FISCAL CONSEQUENCES.+
SPEAKING ON THE HASS TRANSIT RAILWAY PROVISIONAL AUTHORITY, THE FINANCIAL SECRETARY SAID THE AUTHORITY WAS NOW CONSIDERING DRAFT LEGISLATION TO CREATE THE MASS TRANSIT RAILWAY CORPORATION.
+ THE INTENTION IS TO BRING THE CORPORATION INTO BEING AS SOON AS A FORMAL CONTRACT HAS BEEN SIGNED WITH THE JAPANESE CONSORTIUI,+ KE SAID.
HE ADDED THAT THE RECRUITMENT OF THE CORPORATION'S CHIEF OFFICERS WAS NEAR ING SUCCESSFUL COMPLETION.+
IN ADDITION, THE AUTHORITY IS RECRUITING TO SOME 420
POSTS TO START THE ENGINEERING DEPARTMENT.
TO UNDERP IN THE CHIEF OFFICERS, THE PROVISIONAL AUTHORITY's SECRETARIAT IS BEING EXPANDED TO INCLUDE SOME 50 POSTS IN MANAGERIAL, ACCOUNTING, SECRETARIAL, CLERICAL AND ADMINISTRATIVE OCCUPATIONS,
MR. HADDON-CAVE ISSUED TWO WORDS OF WARNING.
HE WARNED OF +A PERIOD OF UNAVOIDABLE DISRUPTION TO THE ENVIRONMENT+ DURING THE CONSTRUCTION OF THE RAILUAY. HE GAVE AN ASSURANCE THAT THE GOVERNIENT AID THE CORPORATION VOULD TRY THEIR VERY BEST TO KEEP THIS WITHIN TOLERACLE LIMITS.
SECONDLY, HE SAID THE RAILWAY MUST NOT ONLY PROVIDE AN ADEQUATE PUBLIC TRANSPORT SERVICE BUT ALSO REMAIN VIABLE.
+THIS,+ HE SAID, +VILL KEAN CHARGING ECONOMIC FARES AB INITIO AND HAVING THE MAINTENANCE OF AN ECONOMIC FARE STRUCTURE AS A CONSTANT AIM-+
HE SAID THE CORPORATION MUST NEVER DEPART FROM THIS AIM AND THE GOVERNMENT. WOULD, AS FAR AS POSSICLE, NOT ALLOW IT TO DO SO.
/+BUT IF,