THURSDAY, APRIL 28, 1994
6
HE HOPED THAT CONSULTATION WITH MEMBERS WOULD HELP THE GOVERNMENT MAP OUT HOW BEST TO DIRECT THE RESOURCES AVAILABLE TO MEET THE ASPIRATIONS AND NEEDS OF THE COMMUNITY.
ON RECURRENT EXPENDITURE, SIR HAMISH NOTED THAT THIS HAD INCREASED BY ABOUT 33 PER CENT IN REAL TERMS OVER THE PAST FIVE YEARS, FROM 1989/90 TO 1993/94.
RECURRENT EXPENDITURE ON KEY AREAS LIKE ENVIRONMENT, HEALTH, SOCIAL WELFARE AND EDUCATION HAD EVEN EXCEEDED THIS RATE OF GROWTH, HE SAID.
ON CAPITAL EXPENDITURE, HE NOTED THAT OVER THE LAST FIVE YEARS, TOTAL EXPENDITURE ON MAJOR NON-AIRPORT CORE PROGRAMME PUBLIC WORKS PROJECTS AMOUNTED TO $66 BILLION.
HE REMINDED MEMBERS THAT IN SUGGESTING NEW PUBLIC WORKS PROJECTS, THEY SHOULD BEAR IN MIND THE CAPACITY CONSTRAINTS ON THE WORKS DEPARTMENTS AND THAT IT NORMALLY TOOK A LEAD TIME OF AT LEAST TWO YEARS TO START NEW PROJECTS.
AFTER SEEKING MEMBERS' VIEWS ON EXPENDITURE PRIORITIES, THE FINANCIAL SECRETARY WILL LATER IN THE YEAR CONDUCT ANOTHER ROUND OF CONSULTATION WITH MEMBERS ON THE REVENUE ASPECTS OF THE BUDGET.
HK TO BUILD ITS FIRST RIVER TRADE TERMINAL
HONG KONG PLANS TO BUILD ITS FIRST TERMINAL SPECIFICALLY DESIGNED TO HANDLE RIVER CARGOES FROM THE PEARL RIVER DELTA.
A PRIVATE COMPANY WILL BUILD AND OPERATE THE TERMINAL, AT AREA 38, TUEN MUN. THE GOVERNMENT WILL CALL TENDERS FOR THE TERMINAL LATER THIS YEAR AND THE FIRST PHASE WILL PROBABLY BEGIN OPERATING BY LATE 1997.
THE PROJECT WAS OUTLINED AT THE MEETING OF THE RIVER TRADE CARGO ACTIVITIES COMMITTEE OF THE PORT DEVELOPMENT BOARD TODAY (THURSDAY).
MEMBERS AGREED THAT THERE WAS A NEED FOR A RIVER TRADE TERMINAL (RTT) BECAUSE OF PROJECTED HUGE INCREASES IN RIVER TRADE.
THE PORT DEVELOPMENT BOARD ESTIMATES THAT THE 20.7 MILLION TONNES OF FREIGHT CARRIED BY RIVER LAST YEAR WILL DOUBLE BY 2001 AND QUADRUPLE BY 2011.
LOSE
IF THE RTT DOES NOT BEGIN OPERATING, THE HONG KONG ECONOMY WILL $13.3 BILLION BETWEEN 1997 AND 2011.
IT WILL MEAN THAT 7.4 MILLION 20-FOOT EQUIVALENT UNITS (TEUS) CONTAINERISED FREIGHT AND 15.2 MILLION TONNES OF BREAK-BULK DOES NOT MOVE THROUGH THE PORT.
OF
CARGO
/THERE IS