2
FRIDAY, APRIL 23, 1976
+ALL OF US IN THIS BANK AND OTHER SIMILAR INSTITUTIONS, AND GOVERNMENTS, HAVE BECOME PREOCCUPIED WITH MULTI-LATERAL AND BILATERAL LENDING PROGRAMMES ON CONCESSIONARY AND QUASI- CONCESSIONARY TERMS, AND LARGELY FOR PUBLIC SECTOR DEVELOPMENT.
+AS A RESULT, WE HAVE, I SUSPECT, TENDED TO IGNORE THE CONTRIBUTION TO ECONOMIC WELL BEING WHICH WOULD STEM FROM SIMILAR INPUT OF FINANCIAL AND OTHER RESOURCES INTO THE PRIVATE SECTOR, THEREBY, IN ADDITION, MOBILISING THE POTENTIAL FOR SELF-HELP MORE EFFICIENTLY.
+AS IT HAPPENS, THERE ARE AVAILABLE IN OUR REGION SEVERAL MODELS WHICH DEMONSTRATE QUITE CLEARLY WHAT CAN BE ACHIEVED IN TERMS OF MATERIAL PROGRESS WHEN THE PRIVATE SECTOR IS SUITABLY EMPHASISED AND WHEN HUMAN EFFORT IS RELEASED,+ HE SAID.
MR. HADDON-CAVE CONTINUED THAT DESPITE HIS +GRUDGING ACCEPTANCE+ OF A SECOND LENDING WINDOW FROM ORDINARY RESOURCES AT A RATE WHICH INCLUDED A FINE OR PREMIUM OF THREE-QUARTERS OF ONE PER CENT, HE FELT BOUND TO SAY THAT, SO FAR AS HE KNEW, OTHER MULTI-LATÉRAL DEVELOPMENT BANKS HAD NOT SEEN FIT TO FOLLOW SUIT EVEN THOUGH THEY CONTINUED TO EXTEND LOANS TO THEIR MORE DEVELOPED DEVELOPING MEMBER COUNTRIES.
CERTIFICATES OF ORIGIN TO COVER GOODS MADE BY
MORE THAN ONE MANUFACTURER
*****
APPLICATIONS MAY NOW BE MADE TO THE COMMERCE AND INDUSTRY DEPARTMENT FOR STANDARD CERTIFICATES OF ORIGIN TO COVER GOODS MADE BY UP TO THREE MANUFACTURERS PROVIDED THE TOTAL VALUE OF THE GOODS CONCERNED DOES NOT EXCEED HK$4,000.
UNTIL NOW THE DC AND HAS BEEN ISSUING CERTIFICATES ON A ONE-MANUFACTURER - ONE-CERTIFICATE BASIS.
A SPOKESMAN FOR THE DEPARTMENT POINTED OUT TODAY THAT THE NEW ARRANGEMENT WAS DESIGNED TO ASSIST THE TRADE IN GENERAL, AND WOULD BE OPERATED INITIALLY FOR A TRIAL PERIOD OF SIX MONTHS AFTER WHICH THE POSITION WOULD BE REVIEWED.
THE DEPARTMENT WILL BE SENDING A CIRCULAR (CERTIFICATE OF ORIGIN CIRCULAR NO. 1/76) TO THE LOCAL TRADE AND INDUSTRIAL ASSOCIATIONS EXPLAINING THE OPERATIONAL DETAILS OF THE NEW ARRANGEMENT.