N
THURSDAY, NOVEMBER 19, 1992
THIS WOULD ENABLE THE PAA ΤΟ MEET THE FULL CONTRACTUAL COMMITMENTS AND ASSOCIATED EXPENSES FOR THE SITE PREPARATION CONTRACT, PLUS OTHER AIRPORT PLANNING AND OPERATING COSTS AND COMMITMENTS FOR THE PERIOD TO JUNE 1993 WITHOUT BORROWING.
TOGETHER WITH $7.3 BILLION ALREADY APPROVED, THE GOVERNMENT'S TOTAL ADVANCE TO THE PAA WOULD COME TO $15.96 BILLION.
"THE
TOTAL ADVANCE TO THE PAA OF $15.96 BILLION IS WITHIN THE $16.6 BILLION EQUITY WHICH THE HONG KONG GOVERNMENT PROPOSED IN ITS ORIGINAL FINANCING PLAN TO INJECT INTO THE PAA.
THIS
"SINCE THE GOVERNMENT'S FORWARD BUDGETING HAS ALREADY ASSUMED COMMITMENT OF EQUITY, THE GRANTING OF THIS ADDITIONAL ADVANCE WILL NOT HAVE ANY IMPACT ON THE GOVERNMENT'S SOCIAL SPENDING, ITS OTHER EXPENDITURE PROGRAMMES, NOR ITS FORECAST RESERVES," THE SPOKESMAN SAID.
THE PAA ANNOUNCED ON JULY 31 THAT IT HAD SELECTED AIRPORT PLATFORM CONTRACTORS JOINT VENTURE TO CARRY OUT THE CONTRACT, WHICH INVOLVES FORMATION OF THE 1, 248-HECTARE SITE.
THE CONSORTIUM SUBMITTED THE LOWEST TENDER ON A FIXED PRICE LUMP SUM BASIS, WITH A PRICE OF $9.041 BILLION.
THE PROPOSED FUNDING WILL BE DISCUSSED WITH MEMBERS OF BOTH THE LEGCO AD HỌC GROUP ON THE FINANCING OF THE ACP AND THE AIRPORT CONSULTATIVE COMMITTEE.
THE CHINESE SIDE OF THE JLG AIRPORT COMMITTER HAS BEEN INFORMED
OF THE DECISION.
AIRPORT SITE PREPARATION DECISION IS STEP IN RIGHT DIRECTION
THE
GOVERNMENT'S DECISION TO SEEK FUNDS FOR THE AIRPORT SITE PREPARATION CONTRACTS IS SIMPLY TAKING ONE STEP FORWARD, NOT ONLY WITHIN THE MEMORANDUM OF UNDERSTANDING, BUT ALSO DOES NOT CREATE OBLIGATIONS FOR THE POST-1997 GOVERNMENT.
WHEN
NEITHER SHOULD IT BE READ AS A SYMBOLIC GO-IT-ALONE GESTURE.
MACLEOD,
THIS WAS STATED BY THE FINANCIAL SECRETARY, MR HAMISH SPEAKING ΤΟ REPORTERS AT THE GOVERNMENT SECRETARIAT TODAY
(THURSDAY).
"THIS IS NOT A GO-IT-ALONE ATTITUDE. THIS IS FULFILLING OUR COMMITMENT UNDER THE MEMORANDUM AND IT MEETS THE MAIN COMMENTS OF THE PRC IN PARTICULAR, IT DOES NOT CREATE ANY OBLIGATIONS, ANY BORROWING OR ANY FRANCHISES, GOING BEYOND 1997, MR MACLEOD SAID.
THE SECRETARY SAID THE GOVERNMENT WAS SIMPLY DEALING WITH THE NEXT DECISION THAT HAD TO BE TAKEN.
/"IT'S