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Financial Secretary meets President Soeharto
The Financial Secretary, Mr Donald Tsang, today (Tuesday) paid a courtesy call on President Soeharto of Indonesia and they exchanged views on issues of mutual interest. Mr Tsang also updated the President on the latest development in the territory as well as the preparatory work leading up to the changeover of sovereignty in 1997.
Today's call on President Soeharto concluded the Financial Secretary's visit to Indonesia, which is part of the Hong Kong Government's on-going efforts to strengthen ties between Hong Kong and other members of the Asia-Pacific Economic Co-operation (APEC).
Mr Tsang, being the Hong Kong APEC leader, visited other APEC member economies, Singapore, Malaysia and Thailand, earlier this year.
Yesterday, Mr Tsang held separate meetings with the Minister of Finance, H.E. Mar'ie Muhammad; the Minister of Foreign Affairs, H.E. Ali Alatas; and the Minister of Trade and Industry, H.E. Tungky Ariwibowo. He called on the Governor of Bank Indonesia, H.E. Soedradjad Djiwandono, and the President of the Jakarta Stock Exchange, Mr Cyril Noerhadi.
Earlier this morning, Mr Tsang attended a breakfast meeting hosted by the President of the Indonesian Chamber of Commerce and Industry, Mr Aburizal Bakrie.
Mr Tsang will leave Jakarta for Wellington and Auckland in New Zealand this evening.
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Tate's Cairn Tunnel toll increase application endorsed
The Transport Advisory Committee (TAC) today (Tuesday) endorsed the application for an average increase of 30 per cent in tolls by the Tate's Caim Tunnel Company (TCTC).
In making the recommendation, TAC members took into account the financial problems, the expected toll increase in the original project proposal and accumulated loss of TCTC.
However, members of the Committee requested the tunnel company to submit a comprehensive business plan to the Administration by November. The plan should embrace measures to reduce expenditure, increase revenue including non-toll revenue, improve air quality of the tunnel and fine tune longer term financial management.