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WEDNESDAY, MARCH 26, 1986
HE ALSO SAID THERE SHOULD BE A PERIODIC REALISTIC REVIEW OF CIVIL SERVICE EMOLUMENTS AT BOTH DIRECTORATE AND NON-DIRECTORATE SCALE.
I SIMPLY WISH TO SEE FACTS AND FIGURES TO SHOW WHETHER OUR LOYAL CIVIL SERVICE IS FAIRLY AND PROPERLY REMUNERATED FOR THEIR CONTRIBUTION TO THE GROWTH AND SUCCESS OF HONG KONG,+ HE SAID.
SUCH INFORMATION WOULD CLARIFY ANY MISUNDERSTANDING OVER THE PRESENT CIVIL SERVICE PAY STRUCTURE AND ASSIST IN SETTLING ANY GRIEVANCES OR INEQUITIES, MR POON ADDED.
MR POON ALSO REFERRED TO LEGISLATION INTRODUCED DURING THE PAST FEW YEARS TO IMPROVE HONG KONG'S IMAGE AS A FINANCIAL CENTRE AND ITS PRUDENTIAL SUPERVISION OF FINANCIAL INSTITUTIONS.
+THE AMENDMENTS TO THE COMPANIES ORDINANCE REQUIRING DISCLOSURE OF LOANS TO DIRECTORS HAVE UNCOVERED MANY INHERENT PROBLEM AREAS WHICH, IF ALLOWED TO CONTINUE, WILL SERIOUSLY DAMAGE HONG KONG'S REPUTATION.
+THE AMENDMENTS TO THE SECURITIES AND COMMODITY TRADING ORDINANCES ALSO UPDATE THE MUCH NEEDED ADDITIONAL REQUIREMENTS TO CONTROL SUCH SECTORS, HE SAID.
THE PROPOSED NEW BANKING BILL WOULD BE ANOTHER BIG STEP IN THIS DIRECTION, MR POON ADDED.
+THE SOPHISTICATION OF BUSINESS, ESPECIALLY IN THE FINANCIAL SERVICES SECTOR, IS DEVELOPING SO FAST THAT THE RELEVANT LEGISLATI), MUST ENDEAVOUR TO KEEP PACE WITH IT, HE STRESSED.
LASTLY, MR POON PAID TRIBUTE TO THE FINANCIAL SECRETARY FOR HAVING STEERED HONG KONG THROUGH TURBULENT WATERS DURING THE PAST FIVE YEARS, SAYING THAT HIS PROPOSALS WERE SOUND AND IT WOULD BE WISE TO ADHERE TO THEM.
PRIVATISATION AS A TEST OF EFFICIENCY
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THE GOVERNMENT SHOULD BE PREPARED TO DIVEST ITSELF OF ANY ACTIVITIES WHICH THE PRIVATE SECTOR COULD OFFER AT A LOWER COST, DR THE HON KIM CHAM SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
SPEAKING IN THE BUDGET DEBATE DR CHAM SAID IT WAS IMPERATIVE THE PUBLIC SECTOR SHOULD NOT BECOME INFLATED TO SUCH AN UNWARRANTED PROPORTION AS TO BECOME VULNERABLE TO THE ILLS OF +BIG GOVERNMENTS+ THAT HAD PLAGUED A NUMBER OF WESTERN INDUSTRIAL ECONOMIES.
/+IT IS