THURSDAY, MARCH 31, 1994
HE SAID THE PROPOSED EXTRA WORKS COVERED THE DEMOLITION OF THE THE CENTRAL ELEVATED WALKWAY AND THREE CONNECTING FOOTBRIDGES ABOVE PROMENADE AT THE HARBOUR VIEW STREET TO MAKE WAY FOR THE LAYING OF NEW HIGH-VOLTAGE ELECTRIC CABLES TO SERVE THE BUILDINGS IN CENTRAL.
AND
CENTRAL
THESE ALSO INCLUDE THE INSTALLATION OF DIAPHRAGM WALLING
KONG ESSENTIAL
OF THE FUTURE AIRPORT RAILWAY HONG PORTIONS SUBWAY FOR PEDESTRIANS UNDER THE HARBOUR VIEW STREET.
ALL THESE EXTRA WORKS MUST BEGIN BY APRIL 22, 1994 IF PROGRAMME DELAY TO THE CENTRAL RECLAMATION PHASE I PROJECT IS TO BE AVOIDED.
COMMITTEE
APPROVE
THE
то THE FINANCE
ASKED WOULD ALSO BE CREATION OF A "POOL" OF GOVERNMENT ACP PROJECT CONTINGENCIES.
HE
FROM
PRESENT,
"AT EXPLAINED:
NOT WE DO
HAVE THE DELEGATED PROJECT APPROVED AUTHORITY
THE FINANCE COMMITTEE TO RE-DEPLOY FUNDS CONTINGENCY
OR SAVINGS FROM ONE GOVERNMENT ACP PROJECT TO ANOTHER PROJECT TO MEET PROGRAMME AND OTHER CRITICAL REQUIREMENTS.
THE "POOLING
++
CREATE
TO
A MORE "MAKE PROJECT THERE
OF
OF PROJECT CONTINGENCIES WOULD FLEXIBLE MECHANISM
ENABLE THE GOVERNMENT THAT WOULD CONSTRUCTIVE USE OF SAVINGS IDENTIFIED FOR ONE GOVERNMENT ACP TO MEET SHORTFALLS NEEDED FOR ANOTHER ACP PROJECT PROVIDED THAT
THE AND IS NO
THE APPROVED SCOPE OF WORKS CHANGE IN CONTINGENCIES DEPLOYED TO A PROJECT NOT EXCEEDING 10 PER CENT OF APPROVED PROJECT ESTIMATE.
AMOUNT
ITS
PROJECT
# THE
"IT WOULD ENABLE THE GOVERNMENT
TO RE-DEPLOY CONTINGENCIES IN THE SHORTEST TIME POSSIBLE TO MEET URGENT NEEDS, SPOKESMAN SAID.
CARRIES
THIS PROPOSAL TO "POOL" PROJECT CONTINGENCIES TOGETHER NO FINANCIAL IMPLICATIONS AS IT INVOLVES ONLY THE INTERNAL TRANSFER OF FUNDS ALREADY APPROVED BY THE FINANCE COMMITTEE, THE SPOKESMAN SAID.
DISCUSSION PAPERS CONTAINING DETAILS OF THE HAVE BEEN ISSUED TODAY TO MEMBERS OF THE LEGISLATIVE COMMITTEE ON THE FINANCING OF THE ACP.
PROPOSED FUNDING COUNCIL'S SUB-
ON
APRIL
THEY
SUB-COMMITTEE WILL BE CONSIDERED AT A MEETING OF THE APRIL 6, IN ADVANCE OF A PUBLIC WORKS SUB-COMMITTEE MEETING ON 13.
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