26
WEDNESDAY, DECEMBER 9, 1987
AT
FURTHER
COMMITMENTS
OF
THE PATROL
MILLION AT
OF
WHICH HONG
IT
ANTICIPATED
THAT WAS
THE TIME WOULD HAVE TO BE MADE SINCE THE ESTIMATED FINAL COST CRAFT WAS THEN PUT AT 59.8 MILLION POUND STERLING OR $718 THE THEN EXCHANGE RATE OF ONE POUND STERLING TO $12, KONG'S SHARE WOULD HAVE BEEN $538 MILLION.
DUE TO THE DELAY IN THE CONSTRUCTION AND DELIVERY OF THE CRAFT, PUT BACK FROM 1986-87 THE ANTICIPATED CLOSING OF ACCOUNTS HAS BEEN TO 1988-89.
DESPITE THE DELAYS,
EXPENDITURE, AS NOW POUND 58 MILLION
MILLION POUND USE
THE FINAL OUT-TURN OF DEFENCE (MOD), IS PROJECTED BY THE MINISTRY STERLING WHICH IS LOWER THAN THE 1981 FORECAST OF 59.8 STERLING, LARGELY DUE TO STRINGENT CONTROL OF THE PROJECT AND THE OF COST SAVING MEASURES.
TOWARDS ITS 75 PATROL
UP TO MARCH 31, 1987, HONG KONG'S EXPENDITURE PER CENT CONTRACTUAL OBLIGATION TO THE COST OF THE REPLACEMENT CRAFT WAS $453, 194, 196.
FURTHER
TO MEET
FINANCIAL
PAYMENTS
IN
JUNE
AND
1987 SEPTEMBER
AND
MOD OF THE FINAL OUT-TURN
THE FIGURE, PENDING CONFIRMATION FROM
HIS DELEGATED AUTHORITY TO DEPUTY
EXERCISED
$2 MILLION TO INCREASE THE APPROVED COMMITMENT FROM $455 MILLION BY $457 MILLION.
SECRETARY
OUT-TURN FIGURE OF 58 MILLION OF THE MOD'S PROJECTED FINAL
POUND STERLING REMAINS TO BE MILLION
PAID. POUND STERLING, 1.15 170,000 POUND STERLING IN THE REMAINDER OF THE 1987-88 FINANCIAL AND 980,000 POUND STERLING IN 1988-89.
YEAR
WELL BE 127,500 POUND HONG KONG'S SHARE OF THIS EXPENDITURE
OF STERLING IN 1987-88 AND 735,000 POUND STERLING IN 1988-89, A TOTAL
AMOUNTS TO $12,075,000 AT AN ASSUMED 862,500 POUND STERLING. THIS EXCHANGE RATE OF HK$14 TO ONE POUND STERLING.
THE
ROYAL
NAVY PATROL
REPLACEMENT CRAFT CONTRACTUAL ARRANGEMENT ENTERED INTO IN 1981 AND DOES OF THE DEFENCE COSTS AGREEMENT.
PROGRAMME
NOT FORM PART
IS
A
IN BEING DELIVERED
AUGUST "INSTEAD OF THE FIRST PATROL CRAFT
THE FIRST 1983 AND THE LAST IN DECEMBER 1984 AS ORIGINALLY SCHEDULED,
1985. DID NOT ARRIVE UNTIL NOVEMBER 1984 AND THE LAST UNTIL SEPTEMBER
"THE REASONS FOR THIS WERE CONSTRUCTION DELAYS AND LONGER-THAN- NEED FOR MODIFICATIONS. EXPECTED SEA-TRIALS, SINCE THESE REVEALED A
TOOK LONGER-THAN-EXPECTED DELIVERY OF CERTAIN ANCILLARY SYSTEMS ALSO TIME AND SOME ARE ONLY
FITTED,
NOW BEING
..
A
GOVERNMENT
SPOKESMAN
EXPLAINED.
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