3
MONDAY, MARCH 9, 1992
"WE ARE FIRMLY COMMITTED TO A POLICY OF ENCOURAGING THE PRIVATE BECAUSE WE SECTOR TO FINANCE AND OPERATE PUBLIC UTILITY SERVICES
MRS CHAN BELIEVE THAT RUNNING BUSINESSES IS BEST LEFT TO BUSINESSMEN, SAID.
"THE
EFFICIENCY
AND
COST-EFFECTIVENESS
OF
"I
OUR
TWO
POWER
FROM
COMPANIES, WHICH FUNCTION WITHOUT THE ASSISTANCE OF ANY SUBSIDY PUBLIC FUNDS, IS TESTIMONY TO THE WISDOM OF THAT APPROACH," SHE ADDED.
THE GOVERNMENT
MRS CHAN STRESSED THAT THIS DID NOT MEAN THAT HAD A COMPLETELY HANDS-OFF ATTITUDE.
TO
"GIVEN THE VITAL IMPORTANCE OF A SECURE ENERGY SUPPLY BOTH HONG KONG'S ECONOMY AND TO THE LIVELIHOOD AND WELL-BEING OF ORDINARY RESPONSIBILITY TO PEOPLE, WE ACCEPT FULLY THAT THE GOVERNMENT HAS A ENSURE THAT THE INTERESTS OF THE PUBLIC ARE PROTECTED,
AN
"
SHE SAID.
"IN EXERCISING OUR REGULATORY RESPONSIBILITIES WE AIM TO STRIKE
BALANCE BETWEEN THE
OF SHAREHOLDERS AND EQUITABLE
INTERESTS
CONSUMERS.
"IN PARTICULAR, WE AIM TO ENSURE:
THAT CONSUMERS GET A RELIABLE AND EFFICIENT SERVICE AND WHICH WILL
INCREASING DEMANDS GROW TO MEET THE COMMUNITY;
ONE
OF
THE
THAT CONSUMERS GET THE SERVICE AT A REASONABLE PRICE;
ENCOURAGE
THAT THE SHAREHOLDERS OF THE COMPANIES GET A RETURN
THEIR INVESTMENT, SO AS TO ON CONTINUE TO MAKE THE NECESSARY INVESTMENTS;
THAT THE COMPANIES CAN COMPETE SUCCESSFULLY IN THE FINANCIAL MARKETS WHEN FUNDS ARE NEEDED; AND
REASONABLE THEM TO
THAT THESE OBJECTIVES
ARE
ACHIEVED WITHOUT
ANY
DIRECT
SUBSIDY FROM PUBLIC FUNDS AND WITHOUT UNDUE INTERFERENCE THE MANAGEMENT OF THE COMPANIES.
IN
THE SCHEME OF CONTROL AGREEMENT SETS OUT THE MUTUAL OBLIGATIONS AND RESPONSIBILITIES OF BOTH SIDES.
JUST QUALITY
THE COMPANIES UNDERTAKE TO PROVIDE A SERVICE WHICH IS NOT ADEQUATE TO MEET DEMAND BUT WHICH IS ALSO EFFICIENT, OF HIGH AND PROVIDED AT THE LOWEST REASONABLE COST.
SUBMIT TO IN FULFILLMENT OF THESE OBLIGATIONS THE COMPANIES
THEIR FORECASTS OF THE GOVERNMENT, FOR ITS SCRUTINY AND APPROVAL,
NECESSARY ΤΟ DEMAND, DETAILS OF THE INVESTMENTS WHICH THEY CONSIDER
IT WILL BELIEVE MEET THAT DEMAND AND THE TARIFFS WHICH THEY NECESSARY TO CHARGE OVER THE PLANNING PERIOD IN QUESTION.
BE
/MRS CHAN