WEDNESDAY, NOVEMBER 24, 1982
12
PUBLIC HAS RIGHT TO KNOW SCHEMES OF CONTROL DR HUANG
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DR THE HON RAYSON HUANG SAID AT THE LEGISLATIVE COUNCIL THAT THE PUBLIC HAS A RIGHT TO KNOW THE SCHEMES OF CONTROL UNDER WHICH PUBLIC UTILITY COMPANIES ARE GUARANTEED A +PERMITTED RETURN+ WITHOUT COMPETITION.
AT A TIME WHEN THE ECONOMY IS BUOYANT, HE SAID, THE COMPANIES CONCERNED SHARE IN THE GENERAL PROSPERITY AND THE WORKFORCE PAYS A FAIR PRICE FOR THE SERVICE WITH WHICH IT IS PROVIDED.
HOWEVER, HE FELT THAT IN TIMES WHEN THE ECONOMY IS LESS BUOYANT AND WHEN BUSINESS AND INDUSTRIAL ENTERPRISES ARE HAVING TO ACCEPT LOWER PROFITS OR WORSE, IT WOULD BE REASONABLE TO EXPECT THE LEVEL OF +PERMITTED RETURN+ FOR THESE FRANCHISED COMPANIES TO BE SUITABLY ADJUSTED.
+ IT IS IMPORTANT THAT THEY, RELATIVE TO OTHER ENTERPRISES, ARE NOT ACCORDED A POSITION OF UNDUE PRIVILEGE, SAID DR HUANG.
+FURTHERMORE, IT IS ESSENTIAL THAT THE SCHEMES OF CONTROL SHOULD BE SUCH AS TO ENSURE MAXIMUM EFFICIENCY AND ECONOMIC VIABILITY.
→THE PUBLIC UTILITY COMPANIES CANNOT EXPECT THE BEST OF BOTH WORLDS.+
DR HUANG REMARKED THAT THE BIGGER THE OPERATION THE MORE EFFICIENT' IS THE JUSTIFICATION FOR MONOPOLY.
+HAVING IN THE INTEREST OF EFFICIENCY CHOSEN MONOPOLY, ANY DEVIATION FROM THIS MUST BE THOROUGHLY JUSTIFIED, HE ADDED.