XN000022-1974-03-14 — Page 15

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Thursday, March 14, 1974

FAIR RENTS TRIBUNALS MOOTED

To Help Reduce Inflation

Fair Rents Tribunals should be set up by the Rating and Valuation

Department to resolve disputes on high rent increases on shops and offico

premises.

This was one of the suggestions made by the Hon. Hilton Cheong-Leen

today to help curb the current inflationary spiral in Hong Kong.

He noted that with a lower rate of inflation derived from a more

stable shop and office rents Hong Kong's image as a good long and modium-

term investment centre would be even more enhanced.

In face of prevailing inflation, Mr. Cheong-Leen called on the

government to enlist more public support to curb profiteering in rice at

the wholesale and retail levels which is "a key psychological factor in the

inflationary spiral."

He emphasized that the government must be openly seen to be doing

everything in its power to dampen down internal inflation, eliminate profiteering

in essential commodities, and dispelling the fear of not being able to cope

with runaway prices.

In this context, Mr. Cheong-Leen hailed the meetings held recently

between the Commerce and Industry Department and rice importers, wholesalers

and retailers groups over the control of the price of rice. However, he

felt that these constructive meetings should have taken place a long time

ago.

"Why it