WEDNESDAY, NOVEMBER 9, 1983
17
+MORE THAN ONE THIRD OF THE PROFIT IS RETAINED BY THE COMPANIES FOR INVESTMENT. FURTHERMORE, THE SHAREHOLDERS THEMSELVES CONTINUE TO PROVIDE NEW CAPITAL FOR INVESTMENT IN THE NECESSARY EXPANSION OF THE COMPANIES.
+WITHOUT THIS NEW INVESTMENT, THE COMPANIES WOULD BE UNABLE TO MEET THE GROWING DEMAND FOR ELECTRICITY, A DEMAND THAT IS A MEASURE OF THE OVERALL PROSPERITY THAT HONG KONG HAS ENJOYED, MR JACOBS POINTED OUT.
DISCUSSING THE CONSULTANCY ON THE MONITORING OF THE POWER COMPANIES, HE SAID THAT WHAT THE GOVERNMENT WAS LOOKING FOR WERE RECOMMENDATIONS UPON WHICH IT COULD BUILD.
+WHILE WE BELIEVE THAT OUR SYSTEM OF MONITORING IS EFFECTIVE, IT WOULD BE FOOLHARDY TO WORK ON THE BASIS THAT THERE IS NO ROOM WHATSOEVER FOR IMPROVEMENT, HE SAID.
ANOTHER PURPOSE OF THE CONSULTANCY, HE STATED, WAS TO GIVE THE PUBLIC REASONABLE ASSURANCE CONCERNING THE SCHEMES OF CONTROL.
+1 VERY MUCH HOPE THAT THE RESULTS OF THE CONSULTANCY AND THE IMPLEMENTATION OF ITS RECOMMENDATIONS WILL INDEED GIVE THAT ASSURANCE,+ HE ADDED.
IN REPLY TO THE HON ANDREW SO'S EARLIER SUGGESTION THAT THE GOVERNMENT SHOULD INTERVENE TO STOP UTILITY CHARGE INCREASES AND TO FREEZE PRICE INCREASES IN THE PUBLIC SECTOR, MR JACOBS POINTED OUT THAT HE HAD MENTIONED LAST OCTOBER THAT THE MOST LIKELY CAUSE OF AN INCREASE IN THE INFLATION RATE WAS THE DEPRECIATION IN THE EXCHANGE RATE OF THE HONG KONG DOLLAR.
NOTING THAT MEASURES HAD BEEN INTRODUCED CONCERNING THE EXCHANGE RATE, MR JACOBS SAID, +1 FIRMLY BELIEVE THAT IN RELATION TO PRICES, WHETHER IN THE PUBLIC OR PRIVATE SECTOR, THOSE MEASURES MAKE IT UNNECESSARY EVEN TO CONTEMPLATE A PRICE FREEZE, WHICH IN ANY EVENT WOULD BE BOUND TO LEAD TO DISTORTIONS ELSEWHERE IN THE ECONOMY.+
+1 MIGHT ADD THAT PRICES DO NOT ALWAYS GO UP. FUEL PRICES MAVE COME DOWN TWICE OVER THE PAST THREE WEEKS, ONCE ON 19TH OCTOBER AND AGAIN YESTERDAY, HE SAID.
+WORKERS ARE HK'S MAJOR RESOURCE+
WORKERS SHOULD BE PROTECTED AGAINST BEING INJURED AT WORK BECAUSE THEY ARE HONG KONG'S MOST IMPORTANT RESOURCE, MR ALLEN LEE, AN UNOFFICIAL MEMBERS OF THE LEGISLATIVE COUNCIL, SAID TODAY (WEDNESDAY).
+TO PROTECT WORKERS IS TO SAFEGUARD OUR RESOURCE. WE HAVE THE RESPONSIBILITY TO EDUCATE THEM ON INDUSTRIAL SAFETY AND TO MAKE THEM REALISE THE IMPORTANCE OF AVOIDING GETTING HURT AT WORK+, HE STRESSED.
/MR LEE