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TUESDAY, MAY 6, 1986
IN ITS REVIEW, THE WORKING GROUP AFFIRMED THE CASE FOR A SCHEME OF SUBSIDISED TRAVEL ON EDUCATIONAL GROUNDS TO ASSIST NEEDY STUDENTS AND THEIR FAMILIES WHO WOULD OTHERWISE EXPERIENCE HARDSHIP IN MEETING THE COST OF ESSENTIAL TRAVEL TO AND FROM A PLACE OF STUDY.
+
HOWEVER IT ALSO CONCLUDED THAT THE EXISTING PRACTICE OF PROVIDING UNLIMITED SUBSIDY FOR ALL JOURNEYS WAS AN INEEFICIENT WAY OF PROMOTING RECREATIONAL ACTIVITIES AMONG STUDENTS.
IT HAS THEREFORE RECOMMENDED THAT RECREATION TRAVEL BY STUDENTS SHOULD CEASE TO BE SUBSIDISED BY GOVERNMENT.
+ IT IS NOT POSSIBLE FOR GOVERNMENT TO ENSURE THAT THE MONEY IS ACTUALLY SPENT ON SUBSIDISING THE TRAVELLING COST OF RECREATIONAL ACTIVITIES WHICH ARE WORTHY OF SUBSIDY.
+ IT IS ESTIMATED THAT ALLOWING STUDENTS TO TRAVEL AT HALF-FARE ON WEEKENDS AND SCHOOL HOLIDAYS ALONE ACCOUNTS FOR 36 PER CENT OR $106 MILLION OF THE COST OF THE SCHEME FOR THE 1985-86 ACADEMIC YEAR, ASSUMING THAT STUDENT RIDERSHIP ON NON-SCHOOL DAYS IS THE SAME AS ON SCHOOL DAYS.
IT IS RECOGNISED THAT SCHOOLS VARY SOMEWHAT IN THEIR HOLIDAYS. TO AVOID CONFUSION, IT HAS BEEN DECIDED THAT THE SCHEME SHOULD ONLY EXCLUDE THE FOLLOWING PERIODS ALL SUNDAYS, DECEMBER 25. TO JANUARY 1 INCLUSIVE AND JULY 16 TO AUGUST 31 INCLUSIVE..
PUBLICITY WILL BE ARRANGED AT THE BEGINNING OF EACH ACADEMIC YEAR TO INFORM STUDENTS OF THE PERIODS DURING WHICH
MOREOVER. SUCH CONCESSIONARY FARES ARE NOT AVAILABLE.
INFORMATION WILL BE PRINTED ON THE STUDENT TRAVEL CARDS.
MILESTONE FOR FUTURES INDUSTRY REACHED
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THE OPENING OF THE STOCK INDEX FUTURES MARKET REPRESENTS A MILESTONE IN THE DEVELOPMENT OF THE FUTURES INDUSTRY IN HONG KONG, THE FINANCIAL SECRETARY, SIR JOHN BREMRIDGE, SAID THIS (TUESDAY) AFTERNOON.
SPEAKING AT THE OPENING OF THE HANG SENG INDEX FUTURES MARKET IN THE HONG KONG FUTURES EXCHANGE, SIR JOHN SAID THESE FUTURES CONTRACTS WOULD PROVIDE AN ADDED DIMENSION TO HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE AS SUCH TRADING HAD PROVED SUCCESSFUL IN OTHER MAJOR FINANCIAL CENTRES.
/+THIS DEVELOPMENT
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