10
FRIDAY, JANUARY 4, 1985
REGISTRATION OF DEAK-PERERA FINANCE REVOKED
*****
THE COMMISSIONER OF DEPOSIT-TAKING COMPANIES ANNOUNCED
TODAY THAT ON WEDNESDAY (JANUARY 2) HE HAD REVOKED THE REGISTRATION OF DEAK-PERERA FINANCE LIMITED AS A DEPOSIT-TAKING COMPANY, ON THE GROUND THAT THE BUSINESS OF THE COMPANY WAS BEING CARRIED ON IN A MANNER DETRIMENTAL TO THE INTERESTS OF ITS DEPOSITORS.
PETROL LEAD CONTENT REDUCED
****
THE LEAD CONTENT OF PETROL SOLD IN HONG KONG HAS BEEN REDUCED TO 0.25 GRAMMES PER LITRE FROM THE PREVIOUS 0.4 GRAMMES PER LITRE FROM JANUARY 1.
THIS HAS BEEN ACHIEVED FURTHER TO A RECOMMENDATION BY THE ENVIRONMENTAL PROTECTION ADVISORY COMMITTEE IN EARLY 1983, AND A VOLUNTARY AGREEMENT BY THE OIL COMPANIES IN HONG KONG.
AN ENVIRONMENTAL PROTECTION AGENCY SPOKESMAN EXPLAINED THAT THIS WAS A FURTHER STEP IN THE PROGRAMME OF PHASED REDUCTIONS INTRODUCED SINCE 1981 WITH THE FULL CO-OPERATION OF THE OIL COMPANIES. THE FIRST STEP TOOK PLACE IN JULY OF THAT YEAR, WHEN THE LEAD CONTENT OF PETROL SOLD IN THE TERRITORY WAS REDUCED FROM 0.84 GRAMMES PËR LITRE TO 0.6 GRAMMES PER LITRE. ON JANUARY 1, 1983, A FURTHER REDUCTION TO 0.4 GRAMMES PER LITRE WAS INTRODUCED.
HONG KONG HAS NO REFINING CAPACITY OF ITS OWN, AND IS DEPENDENT UPON EXTERNAL SOURCES FOR ITS FUEL. IT WAS THEREFORE NECESSARY FOR THE OIL COMPANIES TO NEGOTIATE WITH ITS SUPPLIERS, PRINCIPALLY SINGAPORE AND CHINA, TO ENSURE THAT THE LEAD LEVEL SET FOR FUEL IMPORTED INTO HONG KONG WAS ONE WHICH COULD BE MET WITHOUT EXORBITANT COST ARISING FROM EXCEPTIONAL PRODUCTION RUNS AT REFINERIES.
A SPOKESMAN FOR THE OIL INDUSTRY CONFIRMED THAT SHIPMENTS OF THE 0.25 GRAMMES PER LITRE LEAD LEVEL PETROL HAVE BEEN RECEIVED IN HONG KONG SINCE LATE 1984. THIS PETROL HAS BEEN USED TO FLUSH THROUGH EXISTING STOCK OF PETROL IN STORAGE DEPOTS AND AT FILLING STATIONS, TO ENSURE THAT THE PETROL SOLD AT THE PUMP COULD THEN MEET THE NEW STANDARD OF 0.25 GRAMMES OF LEAD PER LITRE.
MONITORING UNDERTAKEN BY THE EPA SHOWED THAT ATMOSPHERIC LEAD LEVELS IN HONG KONG WERE COMPARABLE TO INTERNATIONALLY ACCEPTED STANDARDS. NEVERTHELESS, GIVEN THE CROWDED URBAN ENVIRONMENT OF HONG KONG, THE GOVERNMENT HAS ACCEPTED THE DESIRABILITY OF REDUCING STILL FURTHER THE LEAD IN THE ENVIRONMENT.
/A SPOKESMAN