WEDNESDAY, JUNE 23, 1976
2.
HE REVEALED THAT URGENT STEPS WERE BEING TAKEN TO ACQUIRE THE NECESSARY STAFF FOR THE FINANCIAL AND TECHNICAL MONITORING OF THE OPERATIONS OF THE TELEPHONE COMPANY.
+SO, IN THESE CIRCUMSTANCES, I SEE NO NEED TO APPOINT EITHER FINANCIAL OR TECHNICAL CONSULTANTS FROM OUTSIDE THE CIVIL SERVICE TO CARRY OUT AN INDEPENDENT SURVEY OF THE TELEPHONE COMPANY, MR. HADDON-CAVE SAID.
ON THE SUGGESTION THAT THE GOVERNMENT SHOULD ACQUIRE ORDINARY SHARES IN THE COMPANY, HE SAID: +WHILE I AM GRATEFULL TO HIM FOR HIS RECOGNITION OF THE EFFICIENCY OF GOVERNMENT-OWNED ENTITIES SUCH AS THE POST OFFICE, THE RAILWAY AND THE AIRPORT, THE TELEPHONE COMPANY IS A DIFFERENT CASE IN THAT IT WOULD, IN ANY CIRCUMSTANCES, STILL OPERATE AS A PRIVATELY OWNED COMPANY.
+IN THIS INSTANCE, AS WITH THE BUS COMPANIES, THE GOVERNMENT IS SATISFIED THAT IT HAS SUFFICIENT LEGISLATIVE AND OTHER CONTROLS OVER THE COMPANY TO ENSURE THAT IT OPERATES IN THE PUBLIC INTEREST WHILE MAKING A REASONABLE PROFIT.
+THE ACQUISITION OF ORDINARY SHARES BY THE GOVERNMENT WOULD NOT INCREASE THAT CONTROL, HE SAID.
13.