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MONDAY, MARCH 7, 1988
ACTING FS: SENSIBLE TO RESOLVE ISSUE
THE GOVERNMENT WAS PREPARED TO INTRODUCE LEGISLATION ON THE "SPECIFIED RATE RULES" INTRODUCED BY THE HONG KONG ASSOCIATION OF BANKS AND PROVIDING FOR CHARGING "NEGATIVE INTEREST" ON LARGE CUSTOMER DEPOSITS, IF ALL THE NECESSARY POWERS DID NOT ALREADY
EXIST, THE ACTING FINANCIAL SECRETARY, MR DAVID NENDICK, SAID TODAY (MONDAY).
AFTER ATTENDING A MR NENDICK ADDED: DON'T THINK THAT
IN RESPONSE TO QUESTIONS FROM REPORTERS BUSINESS WORKSHOP AT THE UNIVERSITY OF HONG KONG, "I SAID ALL THE NECESSARY POWERS BECAUSE EVERYTHING THAT IS PROPOSED TO BE IMPLEMENTED IS BEING CAST INTO DOUBT. IT'S ONLY CERTAIN ASPECTS OF IT.'
IT
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[
THE HONG KONG ASSOCIATION OF BANKS AND GOVERNMENT ARE OF VIEW THAT THERE ARE PERFECTLY LEGAL GROUNDS FOR INTRODUCING IT.
THE
"BUT GIVEN THAT IT'S NOW BEING QUESTIONED, IT'S SENSIBLE ΤΟ RESOLVE THE ISSUK, MR NENDICK SAID.
H
PIONEERING MOVE BY NORTH DISTRICT WORKS SECTION
THE WORKS SECTION OF THE NORTH DISTRICT OFFICE HAS BROKEN NEW GROUND BY AWARDING A CITY AND NEW TERRITORIES ADMINISTRATION DISTRICT- LEVEL WORKS CONTRACT TO A COMPANY ON THE LANDS AND WORKS BRANCH'S LIST OF APPROVED CONTRACTORS.
IT IS THE FIRST DISTRICT-LEVEL WORKS CONTRACT TO BE AWARDED THIS WAY BY A DISTRICT OFFICE WORKS SECTION.
IN
"THE $0.78 MILLION PROJECT, WHICH WAS DESIGNED BY THE WORKS SECTION, IS PART OF THE URBAN FRINGE IMPROVEMENT PROGRAMME IN THE DISTRICT, SAID THE OFFICER IN CHARGE OF THE WORKS SECTION, MR CHOW KING-SHING.
"
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PAK
WORKS INCLUDE THE RECONSTRUCTION OF A VAN TRACK IN TSUNG LONG VILLAGE, SHEUNG SHUI, TO PROVIDE A 3.5-METRE-WIDE CARRIAGEWAY WITH PASSING PLACES AND TURNING AREAS, AND ASSOCIATED DRAINAGE.
WHEN COMPLETED, THE TRACK WILL PROVIDE IMPROVED ACCESS FROM CASTLE PEAK ROAD VIA AN EXISTING SERVICE ROAD TO TSUNG PAK LONG.
THE CONTRACT FOR THE PROJECT WAS SIGNED TODAY (MONDAY) NORTH DISTRICT OFFICE,
AT THE
/CONSTRUCTION WORK