WEDNESDAY, JANUARY 19, 1994
MAINTENANCE IS THE OTHER MAJOR AND EXPENSIVE EXPENDITURE ITEM AND A LARGE PROPORTION OF THE MAINTENANCE COSTS IS ATTRIBUTABLE TO THE NEED FOR BUSES TO UNDERGO RIGOROUS INSPECTION AND OVERHAULING, HE SAID.
THEN, THERE IS THE QUESTION OF SERVICE IMPROVEMENTS RELATED TO THE OPENING OF THE NEW TOWNS AND NEW HOUSING DEVELOPMENTS IN THE URBAN AREAS, AND IN RESPONSE TO COMMUNITY DEMAND FOR QUALITATIVE IMPROVEMENTS, HE SAID.
"THESE IMPROVEMENTS THAT THE PUBLIC WANT AND EXPECT HAVE TO BE FUNDED AND PAID FOR AND THUS CONTRIBUTE SOME WAY TOWARDS THE JUSTIFICATION FOR HIGHER FARES. INFLATION ALONE DOES NOT COVER SUCH EXPENDITURE," MR BARMA SAID.
"THE COST OF ELDERLY CONCESSIONARY FARES IS, LIKEWISE, NOT COVERED BY THE GENERAL LEVEL OF INFLATION, HE SAID.
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ON THE RECENT PROFIT OF SOME $1.7 BILLION ACCRUING TO KMB'S SHAREHOLDERS THROUGH THE SALE OF TWO BUS DEPOTS, MR BARMA SAID: "THE SITES IN QUESTION WERE OBTAINED BY KMB AT FULL MARKET VALUE. IT WAS PAID FOR BY THEIR SHAREHOLDERS.
"THESE TWO SITES WERE NO LONGER REQUIRED FOR AND, HENCE, PERMISSION WAS GIVEN FOR THEIR DISPOSAL.
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BUS OPERATIONS
ON THE IMPACT OF PUBLIC TRANSPORT FARE INCREASES ON LIVELIHOOD, MR BARMA SAID OVER THE LAST FOUR YEARS, PUBLIC TRANSPORT FARE INCREASES ONLY ACCOUNTED FOR HALF A PERCENTAGE POINT OF INCREASE IN THE CONSUMER PRICE INDEX.
MR BARMA ALSO POINTED OUT THAT KMB HAS A SCHEME OF CONTROL THAT IS LEGALLY BINDING ON BOTH THE GOVERNMENT AND THE COMPANY.
HOWEVER, THERE IS NO OBLIGATION ON THE GOVERNMENT'S PART то AGREE TO PITCH BUS FARES AT A LEVEL WHICH WOULD ENABLE THE COMPANY TO ACHIEVE THE MAXIMUM RETURN OF 16%.
HE ALSO SAID A REVIEW OF THE SCHEME WILL BE UNDERTAKEN,
DIFFERENT RACES LIVE IN HARMONY IN HK
HONG KONG CAN PRIDE ITSELF AS A PLACE WHERE PEOPLE OF DIFFERENT RACES AND CULTURES LIVE IN PEACE AND HARMONY, THE SECRETARY FOR HOME AFFAIRS, MR MICHAEL SUEN, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MR SUEN SAID THERE WAS NO EVIDENCE OF WIDESPREAD RACIAL DISCRIMINATION IN THE TERRITORY.
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