7.
Fee revision proposed
The Government announced today (Wednesday) that specific fees charged under the Aerial Ropeways (Safety) Ordinance and the Lifts and Escalators (Safety) Ordinance will be increased on March 8, 1996, subject to Legislative Council's approval.
The revision aims to recover the full costs of providing the services paid, for. Increases for fees for registering as aerial ropeway operators and for amending their limited certificates will be phased in over two years.
The proposed increases in some items are higher than the prevailing inflation rate because the existing fee levels have not taken into account the enhanced services provided by the Electrical and Mechanical Services Department (EMSD).
For example, in processing an application to be a lift contractor or escalator contractor under the Lifts and Escalators (Safety) Ordinance, EMSD will now conduct site inspection to better assess the competence of the applicants.
"Although the proposed increases appear to be high in percentage term, they are indeed modest in money term and will have a minimal impact on the operating costs of those engaged in the trade. The biggest increase is about $1,600 only," a
government spokesman said.
End
Hong Kong Monetary Authority money market operations
Cumulative
Time
$ million
(hours)
change ($million)
Opening balance in the account
2,166
0930
-162
Closing balance in the account
1,906
1000
-162
Change attributable to:
1100
-162
Money market activity
-170
1200
-157
LAF today
-90
1500
-157
1600
-170
LAF rate 4.25% bid/6.25% offer TW1 123.7 *+0.2* 17.1.96