XN000022-1987-11-24 — Page 7

TUESDAY, NOVEMBER 24, 1987

6

FUNDS SOUGHT FOR IMPROVING PUBLIC ASSISTANCE SCHEME

THE FINANCE COMMITTEE WILL BE ASKED TO ACCEPT THE FINANCIAL IMPLICATIONS ARISING FROM A PROPOSAL TO IMPROVE THE PUBLIC ASSISTANCE SCHEME, WITH EFFECT FROM JANUARY 1 NEXT YEAR, AT ITS MEETING (WEDNESDAY).

TOMORROW

AFTER A RECENT REVIEW OF THE PUBLIC ASSISTANCE SCHEME, A PACKAGE OF PROPOSED IMPROVEMENTS WAS

BY THE GOVERNOR IN COUNCIL SUBJECT TO THE PROVISION OF THE NECESSARY FUNDS.

APPROVED

THE FINANCIAL IMPLICATIONS ARE ESTIMATED AT $25.7 A FULL YEAR IN ANNUALLY RECURRENT EXPENDITURE.

MILLION

FOR

THE FINANCE COMMITTEE WILL ALSO CONSIDER TWO ITEMS RELATING TO RECENT EVENTS IN THE HONG KONG STOCK AND FUTURES MARKETS.

THE FIRST ONE IS TO APPROVE A COMMITMENT OF $3.5 MILLION FOR CONSULTANCY ON THE FINANCIAL FUTURES MARKET IN HONG KONG.

A

OF

THE EXPENDITURE WAS INCURRED AS A RESULT OF THE ENGAGEMENT

BANK THE HAMBROS

LTD ON OCTOBER 22 TO ACT AS ADVISER TO

THE GOVERNMENT, WHICH LED TO THE ORDERLY RE-OPENING OF THE STOCK AND FUTURES MARKETS ON OCTOBER 26.

THE THE SECOND ITEM IS TO APPROVE

FINANCIAL IMPLICATIONS OF ESTABLISHING THE SECURITIES REVIEW COMMITTEE, ESTIMATED AT $5.1

$3.9 MILLION FOR MILLION AND A NEW NON-RECURRENT COMMITMEnt of

THE

ENGAGEMENT OF EXPERTS AND FOR DUTY VISITS.

OTHER ITEMS ON TOMORROW'S AGENDA INCLUDE:

*

*

*

THE

AN INCREASE OF $6,193,000 IN THE BLOCK CAPITAL GRANT TO HOUSING DEPARTMENT FOR INCLUSION OF 11 ADDITIONAL WELFARE PROJECTS IN THE ROLLING PROGRAMME;

A SUPPLEMENTARY PROVISION OF $4.2 MILLION TO MEET REFUNDS OF REVENUE;

A COMMITMENT OF $4.6 MILLION FOR THE PURCHASE OF A REPLACEMENT THREE-UNIT REEL-FED OFFSET PRINTING PRESS FOR THE PRINTING DEPARTMENT;

AN INCREASE IN COMMITMENT BY $19,030,000 FOR ASBESTOS ABATEMENT WORKS TO BE CARRIED OUT IN 28 AIDED SCHOOLS;

LEI

A COMMITMENT OF $5,913,000 TO ASSIST THE PO LEUNG KUK IN PROVIDING A SPECIAL SCHOOL WITH BOARDING PLACES AT THE MUK SHUE ESTATE FOR SEVERELY MENTALLY HANDICAPPED CHILDREN;

THE FINANCIAL