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Wednesday, March 1, 1972
PILOT SCHINE FOF LOIDS TO SHALL TUDUSTRIAL
ERPRISES
To Buy Fore Efficient Lachicory, Equipment
Government has agreed to a pilot achure providing for loans, ranging
between $50,000 and 250,000 and totalling up to 30 million, to small ·
industrial enterprises to help them in buying machinery and equipment.
Announcing this in his Budget speech in the Legislative Council today,
the Financial Secretary said the scheme would be put into operation, subject
to Finance Committee's acceptate of the financial liability involved, as
soon as the necessary arrangements could be finalised by the Director of Commerce
and Industry.
He said the proposal, provision for which had not been included in the
Draft Estimates, would be put to Finane. Conritton very shortly.
The Financial Secretary sail that small industrial enterprises "have
played, and will continue to play" an important part in Hong Kong's economy.
"It is essential that thune emoll enterprises should participate in
the procees of upgrading our industry nd increasing its productivity through
the installation of more efficient machinery and equipment and the adoption
of more up-to-date management practices."
▲ committee appointed by the Trads and induetry Advisory Board has
prepared a scheme designed to make loans more easily available, at reasonable
rates of interest, through the banking system to small firms to assist them in
purchasing equipment and machinery.
The committee
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