FRIDAY, JULY 22, 1994
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GOVT'S FINAL ACCOUNTS FOR 1993/94 GAZETTED
1993/94,
THE GOVERNMENT'S FINAL ACCOUNTS FOR THE FINANCIAL YEAR WHICH ENDED ON MARCH 31, 1994, WERE PUBLISHED TODAY (FRIDAY) IN THE GAZETTE.
TOTAL REVENUE FOR THE YEAR WAS $166.6 BILLION, COMPARED TO THE REVISED ESTIMATE OF $164.4 BILLION GIVEN IN THE
1994 BUDGET SPEECH. TOTAL EXPENDITURE WAS $147.4 BILLION COMPARED WITH A REVISED ESTIMATE OF $149.3 BILLION.
A GOVERNMENT SPOKESMAN SAID: "THE ADDITIONAL REVENUE REFLECTED THE EXCEPTIONAL LEVEL OF ACTIVITY IN CERTAIN SECTORS OF THE ECONOMY IN THE LAST QUARTER OF 1993/94, PARTICULARLY THE PROPERTY MARKET.'
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THE UNDERSPENDING OF $1.9 BILLION, JUST OVER ONK PER CENT OF THE REVISED ESTIMATE, IS MADE UP OF A NUMBER OF MINOR VARIANCES.
AS A RESULT, THE OVERALL SURPLUS FOR 1993/94 WAS $19.2 BILLION. THIS BRINGS THE TOTAL FISCAL RESERVES TO $140.2 BILLION AT MARCH 31, 1994.
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GUIDELINES ON TRANSFER TO LOCAL CONDITIONS
FOLLOWING THE EXPIRY OF THE PUBLIC OFFICERS (VARIATION OF CONDITIONS OF SERVICE) (TEMPORARY PROVISIONS) ORDINANCE, THE GOVERNMENT HAS DRAWN UP DETAILED GUIDELINES FOR IMPLEMENTING THE MODIFIED ARRANGEMENTS FOR OVERSEAS AGREEMENT OFFICERS TRANSFERRING TO LOCAL CONDITIONS OF SERVICE.
"THIS FOLLOWS EXTENSIVE DISCUSSIONS WITH STAFF AND OTHER INTERESTED BODIES," A SPOKESMAN FOR THE CIVIL SERVICE BRANCH SAID TODAY (FRIDAY).
"THE OBJECT OF THE MODIFIED ARRANGEMENTS IS То BALANCE THE INTERESTS OF ALL OFFICERS. OVERSEAS OFFICERS WHO ARE PERMANENT RESIDENTS MAY BE OFFERED AGREEMENTS MODELLED ON LOCAL CONDITIONS OF SERVICE, WHILE THE REASONABLE ASPIRATIONS OF LOCAL OFFICERS WILL NOT BE UNDULY AFFECTED, THE SPOKESMAN SAID.
"ΤΟ ACHIEVE THIS OBJECTIVE, IF AN OVERSEAS AGREEMENT OFFICER APPLYING FOR TRANSFER MEETS ALL THE CRITERIA. AND IS OCCUPYING A PROMOTION RANK, THE TEST OF WHETHER THERE IS A SUITABLE LOCAL REPLACEMENT WILL APPLY TO HIM, THE SPOKESMAN SAID.
"IF IT APPEARS THAT A SUITABLE LOCAL REPLACEMENT IS AVAILABLE,
A SELECTION BOARD WILL BE HELD.
"IF A LOCAL CANDIDATE IS RECOMMENDED, THE TRANSFEREE WILL SERVE AT A LOWER RANK BUT WILL RECEIVE PERSONAL SALARY AND LOCAL CONDITIONS OF SERVICE AT HIS ORIGINAL RANK, HE EXPLAINED.
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**IF NO LOCAL REPLACEMENT IS AVAILABLE, THE TRANSFEREE WILL CONTINUE TO SERVE AT HIS CURRENT RANK. IT MAKES NO SENSE TO REQUIRE THE TRANSFEREE TO SERVE AT A LOWER RANK SO AS TO MAKE WAY FOR THE PROMOTION OF ANOTHER OVERSEAS OFFICER, HE POINTED OUT.
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