WEDNESDAY, NOVEMBER 18, 1992
BILL SEEKS TO SET UP TRADING FUNDS IN DEPARTMENTS
FRAMEWORK GOVERNMENT TODAY
THE TRADING FUNDS BILL WHICH SEEKS
A TO PROVIDE FOR THE SUBSEQUENT SETTING UP OF TRADING FUNDS IN CERTAIN DEPARTMENTS
COUNCIL LEGISLATIVE
(WEDNESDAY).
WAS
INTRODUCED INTO THE
MOVING THE SECOND READING OF THE BILL, THE ACTING SECRETARY FOR FUND WAS A THE TREASURY, MR KWONG KI-CHI, EXPLAINED THAT A TRADING FINANCIAL
DEPARTMENT AND ACCOUNTING ARRANGEMENT WHICH WOULD ENABLE A
WHILE OPERATE MORE LIKE BUSINESSES, WHERE THIS WAS APPROPRIATE, REMAINING AS PART OF THE GOVERNMENT.
TO
THE
IS OBJECTIVE CUSTOMERS, MR KWONG SAID.
ΤΟ IMPROVE THE QUALITY OF
SERVICE
TO
A DEPARTMENT OPERATING UNDER A TRADING FUND WOULD RECEIVE
ITS CUSTOMERS, IN THE PRIVATE OR PUBLIC SECTOR, SERVICES PROVIDED UNDER A FUND.
PAYMENTS FROM
SUCH PAYMENTS GENERAL REVENUE.
MR
KWONG
FOR
WOULD BE CREDITED TO THE FUND
RATHER
THAN
TO
EXPLAINED THAT THE DEPARTMENT WOULD MEET EXPENDITURE FROM THE FUND, AND IT WOULD BE REQUIRED TO BALANCE AND EXPENDITURE, TAKING ONE YEAR WITH ANOTHER.
ITS
INCOME
"THIS ARRANGEMENT WOULD ENABLE A DEPARTMENT WHICH PROVIDES SERVICES ON A COST-RECOVERY BASIS TO RESPOND TO THE CHANGING NEEDS ITS FEE-PAYING CLIENTS MORE PROMPTLY," HE SAID,
OF
HE POINTED OUT THAT SUCH A PROMPT REACTION TO CHANGES IN DEMAND UNDER WHICH WAS INHIBITED BY THE EXISTING SYSTEMS OF ACCOUNTABILITY FUNDS WERE ALLOCATED AT THE BEGINNING OF EACH FINANCIAL YEAR.
MR KWONG EMPHASISED THAT THE SETTING UP OF TRADING FUNDS NOT CHANGE THE STATUS OF DEPARTMENTS IN ANY WAY.
WOULD
"DEPARTMENTS OPERATING UNDER TRADING FUNDS WOULD REMAIN
DEPARTMENTS; THEIR ASSETS WOULD REMAIN GOVERNMENT GOVERNMENT
ASSETS; THEIR STAFF WOULD REMAIN CIVIL SERVANTS," MR KWONG SAID.
A TRADING LEGISLATIVE COUNCIL.
FUND WOULD BE ESTABLISHED BY A
RESOLUTION
OF
THE
THE RESOLUTION WOULD APPROPRIATE ΤΟ THE FUND THE ASSETS INJECTIONS EMPLOYED IN THE DESIGNATED OPERATIONS AND MAY PROVIDE CASH BOTH FROM THE CAPITAL INVESTMENT FUND AND FROM THE LOAN FUND.
ON THE MANAGEMENT OF THE FUND, MR KWONG SAID A CHIEF WOULD BE APPOINTED TO CONTROL AND MANAGE EACH TRADING FUND.
EXECUTIVE
AND
THE CHIEF EXECUTIVE WOULD ALSO NEED TO DEVISE PROCUREMENT FINANCIAL REGULATIONS APPROPRIATE TO THE TRADING FUND'S OPERATION, SUBJECT TO ANY DIRECTION THE FINANCIAL SECRETARY MAY ISSUE.
/AS THE