XN000022-1979-04-25 — Page 22

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WEDNESDAY, APRIL 25, 1979

+CERTAINLY THE OPPORTUNITIES FOR CLOSER CO-OPERATION AND COMPLEMENTARY EFFORT BETWEEN GOVERNMENT AND PRIVATE ENTERPRISE IN PROVIDING MORE HOME OWNERSHIP SCHEMES TO MIDDLE-INCOME FAMILIES HAVE YET TO BE FULLY EXPLOITED, HE SAID.

MR. CHEONG-LEEN ALSO COMMENTED ON THREE OTHER ASPECTS OF GOVERNMENT ADMINISTRATION COVERED BY THE APPROPRIATION BILL.

ON EDUCATION SUBVENTION, MR. CHEONG-LEEN ASKED FOR A SPECIAL PROGRAMME TO PROVIDE ALL RETARDED CHILDREN WHO ARE SUITABLE WITH SCHOOL PLACES UP TO THE AGE OF 15 OR 16 BY THE MID-80'S.

HE ALSO WANTED TO KNOW HOW COMPULSORY EDUCATION IS BE ING IMPLEMENTED FOR THE CHILDREN OF BOAT PEOPLE.

REFERRING TO THE LARGE NUMBER OF IMMIGRANT WORKERS,

MR. CHEONG-LEEN SUGGESTED THAT THE INDUSTRIAL ASSOCIATIONS IN THE HOUSING AUTHORITY FLATTED FACTORY ESTATES BE CONSULTED AND THE IR ASSISTANCE SOUGHT IN ORGANISING SHORT-TERM INDUSTRIAL TRAINING FOR THESE PEOPLE.

THIS WOULD FACILITATE THE IR INTEGRATION INTO THE LABOUR FORCE AND COULD RELIEVE SOME OF THE LABOUR SHORTAGES, HE SAID.

COMMENTING ON THE FINANCIAL DIFFICULTIES BEING EXPERIENCED BY SMALL AND MEDIUM-SIZED FACTORIES, MR. CHEONG-LEEN HOPED THAT MEMBERS OF THE EXCHANGE BANKS ASSOCIATION, WITH ENCOURAGEMENT FROM GOVERNMENT, WILL MAKE LOANS AVAILABLE TO THEM AT CURRENT PRIME RATE TO THE MAXIMUM POSSIBLE EXTENT,

HE POINTED OUT THAT THESE FACTORIES DO NOT HAVE THE FACILITY OF ESTABLISHED FACTOR IES TO BORROW AT THE PRIME RATE.

+ IT IS ALL TOO PAINFULLY OBVIOUS THAT GOVERNMENT HAS NOT YET ACQUIRED THE ART OF FINE TUNING IN THE INDUSTRIAL SECTOR OF THE ECONOMY, IN SO FAR AS THE NEEDS OF SMALL INDUSTRY IS CONCERNED, HE SAID.

ALTHOUGH A SUBSIDIARY WORKING GROUP OF THE ADVISORY COMMITTEE ON DIVERSIFICATION IS EXAMINING SOURCES OF FINANCE FOR INDUSTRY, WITHOUT KNOWING HOW LONG THE CURRENT HIGH INTEREST RATE WILL LAST, ONE CAN ONLY HOPE THAT NOT MANY SMALL FACTORIES WILL FOLD UNTIL GOVERNMENT COMES UP WITH SOME CONCRETE PROPOSALS, HE SAID.

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