XN000022-1980-09-11 — Page 3

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THURSDAY, SEPTEMBER 11, 1980

WITH RETROSPECTIVE EFFECT FROM SEPTEMBER 1 THIS YEAR, THE CONTRIBUTION WILL BE FIVE PER CENT OF AN EMPLOYEE'S SALARY FOR THE FIRST 10 YEARS OF SERVICE, 10 PER CENT FOR THE NEXT 11 TO 15 YEARS AND 15 PER CENT FOR 16 YEARS AND MORE.

THE ADDITIONAL COST OF THE NEW SUBSIDIES IS ESTIMATED TO BE $18.8 MILLION IN THE CURRENT FINANCIAL YEAR.

IN RESPONSE TO A REQUEST BY THE BOARDS OF THE GRANT SCHOOLS PROVIDENT FUND AND THE SUBSIDIZED SCHOOLS PROVIDENT FUND, THE GOVERNMENT HAS ALSO DECIDED TO UNDERWRITE A GUARANTEED FIVE PER CENT ANNUAL DIVIDEND TO CONTRIBUTORS.

THE PROPOSAL WAS ACCEPTED ON THE GROUNDS THAT MEMBERSHIP OF EITHER OF THE TWO STATUTORY SCHEMES IS COMPULSORY FOR AIDED SCHOOL TEACHERS, WHO ARE EFFECTIVELY DEBARRED FROM JOINING OTHER SCHEMES IN THE COMMERCIAL SECTOR WHICH USUALLY OFFER A GUARANTEED DIVIDEND OF FIVE PER CENT.

APRIL-JUNE TRADE STATISTICS BY INDUSTRIAL ORIGIN

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THE FIVE MOST IMPORTANT INDUSTRY GROUPS IN TERMS OF DOMESTIC EXPORTS IN THE SECOND QUARTER OF THIS YEAR WERE WEARING APPAREL, ELECTRICAL APPLIANCES, TEXTILES, PROFESSIONAL AND OPTICAL EQUIPMENT, AND PLASTIC PRODUCTS.

THEY TOGETHER ACCOUNTED FOR 80 PER CENT OF THE TOTAL VALUE OF SUCH EXPORTS, ACCORDING TO EXTERNAL TRADE STATISTICS ANALYSED BY INDUSTRIAL ORIGIN FOR THE QUARTER RELEASED BY THE CENSUS AND STATISTICS DEPARTMENT TODAY.

THIS SERIES OF STATISTICS IS DERIVED BY RE-GROUPING ALL SIX-DIGIT COMMODITY ITEMS UNDER THE PRESENT EXTERNAL TRADE CLASS IF ICATION SYSTEM, ACCORDING TO THE INDUSTRIES IN WHICH THESE COMMODITY ITEMS ARE NORMALLY PRODUCED.

THE LARGEST INCREASES IN ABSOLUTE TERMS OVER THE SECOND QUARTER OF 1979 OCCURRED IN ELECTRICAL APPLIANCES ($896 MILLION), WEARING APPAREL ($680 MILLION), TEXTILES ($624 MILLION), PROFESSIONAL AND OPTICAL EQUIPMENT ($558 MILLION), AND METAL PRODUCTS ($404 MILLION).

PERCENTAGE INCREASES IN VALUE OVER THE SECOND QUARTER OF 1979 WERE HIGHEST IN THE CASE OF PETROLEUM AND COAL PRODUCTS (125%) AGRICULTURAL, LIVESTOCK AND POULTRY PRODUCTION (118%) - TOBACCO (80%)- MINING AND QUARRYING (74%) = NON-METALLIC MINERAL PRODUCTS (63%) NON-ELECTRICAL MACHINERY (62%) AND ELECTRICITY (60%).

ON THE OTHER HAND, PERCENTAGE DECREASES IN VALUE WERE RECORDED FOR FOOD (-12%), AND OCEAN AND COASTAL FISHING (-10%).

FOR IMPORTS, PRODUCTS OF THE TEXTILES, ELECTRICAL APPLIANCES, CHEMICALS, METALS, PETROLEUM AND COAL, FOOD, AND PROFESSIONAL AND OPTICAL EQUIPMENT INDUSTRIES TOGETHER TOOK UP 64 PER CENT OF THE TOTAL VALUE IN THE SECOND QUARTER OF 1980.

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