2
FRIDAY, JULY 17, 1992
NOT
WINDING UP HIS DAY'S VISIT, THE GOVERNOR SAID HONG KONG COULD BE COMPLACENT IN THE FIGHT AGAINST CRIME, DESPITE RECENT SUCCESSES.
"WE HAVE TO GO ON FIGHTING CRIME INCREASINGLY VIGOROUSLY. WE HAVE TO GIVE THE COMMISSIONER AND ALL HIS OFFICERS EVERY SUPPORT THAT WE CAN SO THAT THEY CAN BE EVEN MORE SUCCESSFUL, AND SO THAT THE REST OF THE WORLD WILL RECOGNISE JUST HOW WELL WE'VE INSURED THE STABILITY OF HONG KONG."
EXCELLENT PROGRESS ON AIRPORT CORE PROGRAMME: CS
EXCELLENT PROGRESS IS BEING MADE ON THE PUBLIC WORKS SIDE OF THE AIRPORT CORE PROGRAMME (ACP) AND ALL NINE MAJOR GOVERNMENT CONSTRUCTION CONTRACTS AWARDED SO FAR, TOTALLING NEARLY $15 BILLION, ARE WITHIN COST ESTIMATES.
"HONG KONG'S AIRPORT CORE PROGRAMME IS ON SCHEDULE, WITHIN BUDGET, AND IT IS COST EFFECTIVE, THE CHIEF SECRETARY, SIR DAVID FORD, SAID TODAY (FRIDAY) AT A BRIEFING ON THE ACP ORGANISED
BY THE HONG KONG GENERAL CHAMBER OF COMMERCE.
ALSO SPEAKING AT THE BRIEFING, THE SECRETARY FOR THE MR K.Y. YEUNG, SAID SUBSTANTIAL RETURNS WERE EXPECTED GOVERNMENT'S INVESTMENTS IN THE ACP SUCH AS IN THE NEW THE LANTAU FIXED CROSSING AND THE AIRPORT RAILWAY.
TREASURY, FROM THE AIRPORT,
HE ANNOUNCED THAT THESE INVESTMENTS WERE FORECAST ΤΟ GENERATE ADDITIONAL REVENUE TO THE GOVERNMENT TOTALLING SOME $300 BILLION BY 2020.
ON THE ECONOMIC DISBENEFIT OF NOT PROCEEDING WITH THE AIRPORT, MR YEUNG POINTED OUT THAT INDEPENDENT EXPERTS ADVISING THE GOVERNMENT HAD ESTIMATED IN 1988 THAT EVEN BY 2010 SUCH DISBENEFIT TO THE ECONOMY AS A WHOLE WOULD AMOUNT TO $130 BILLION IN 1990 PRICES.
GAVE
UPDATING OF THIS DISBENEFIT TO TAKE ACCOUNT OF INFLATION A FIGURE OF AT LEAST $420 BILLION OVER THE PERIOD 1997-2010, IN MONEY OF THE DAY TERMS, HE SAID.
ANOTHER SPEAKER, CHAIRMAN OF THE HONGKONG AND SHANGHAI BANKING CORPORATION MR WILLIAM PURVES DESCRIBED THE NEW AIRPORT AS A PHYSICAL CONTRIBUTION TO THE CONTINUED PROSPERITY OF HONG KONG INTO THE 21ST CENTURY - A LONG-TERM INVESTMENT WHOSE DIVIDENDS WOULD BE PAID IN THE DECADES TO COME.
OTHER SPEAKERS AT THE BRIEFING, WHICH WAS ATTENDED BY OVER 600 LEADING LOCAL AND INTERNATIONAL BUSINESSMEN, WERE THE CHAIRMAN OF THE MASS TRANSIT RAILWAY CORPORATION, MR HAMISH MATHERS, AND THE CHIEF EXECUTIVE OFFICER OF THE PROVISIONAL AIRPORT AUTHORITY (PAA), MR RICHARD ALLEN.
/SIR DAVID
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