XN000022-1989-02-09 — Page 2

THURSDAY, FEBRUARY 9, 1989

REVISED RENTALS FOR WHOLESALE MARKET SPACE

THE RENTALS FOR MARKET SPACE IN FOUR WHOLESALE MARKETS WILL BE REVISED FROM APRIL 1, FISHERIES DEPARTMENT ANNOUNCED TODAY (THURSDAY).

GOVERNMENT TEMPORARY THE AGRICULTURE AND

THE FOUR WHOLESALE MARKETS ARE THE WESTERN TEMPORARY WHOLESALE FRUIT MARKET, THE CHEUNG SHA WAN TEMPORARY WHOLESALE MARKET FOR IMPORTED VEGETABLES, THE CHEUNG SHA WAN TEMPORARY WHOLESALE POULTRY MARKET AND THE CHEUNG SHA WAN TEMPORARY WHOLESALE FRESHWATER FISH MARKET.

UNDER THE REVISION, THE RENTALS FOR STALLS AND LORRY PARKING SPACES IN THE WHOLESALE MARKET IN WESTERN WILL BE INCREASED BY AN AVERAGE OF 12 PER CENT AND 18 PER CENT RESPECTIVELY.

RENTS WILL BE INCREASED AT THE RATE OF $13.80 PER SQUARE METRE OR AN AVERAGE OF 28 PER CENT FOR THE RENTALS IN THE THREE OTHER WHOLESALE MARKETS IN CHEUNG SHA WAN. A FLAT INCREASE RATE OF $70 WILL BE IMPOSED ON LORRY PARKING SPACES.

GIVING DETAILS OF THE

INCREASE, MR H.C.

THE DEPARTMENT'S SENIOR ECONOMICS AND MARKETING OFFICER,

TSOI, SAID THE REVISION RESULTED FROM REGULAR REVIEWS TO UPDATE THE RENTAL LEVELS AT THESE MARKETS IN LINE WITH THE POLICY OF FULL COST RECOVERY.

THE REVIEWS HAD BEEN CARRIED OUT BY THE GOVERNMENT AT THREE-YEAR INTERVALS SINCE 1974.

THE

"DIFFERENT RATES OF INCREASE ARE ADOPTED FOR THE WHOLESALE MARKET IN WESTERN AND THOSE IN CHEUNG SHA WAN BECAUSE OF DIFFERENCE IN RECURRENT MARKET EXPENSES, INCLUDING STAFF AND ADMINISTRATIVE COSTS, AND IN CAPITAL OUTLAY, MR TSOI SAID.

DEPENDING ON THE SIZE OF INDIVIDUAL STALLS AND THE TYPE OF LORRY PARKING SPACES, THE ACTUAL INCREASES IMPOSED IN THE WESTERN MARKET RANGE FROM $150 TO $580 FOR STALLS, AND FROM $110 TO $260 FOR LORRY PARKING SPACES.

THE INCREASES IN THE CHEUNG SHA WAN MARKETS RANGE FROM $175 $3840 FOR STALLS.

ΤΟ

WHOLESALE MERCHANTS ASSOCIATIONS

CONCERNED WERE REVISED RENTALS

AND TRADERS NOTIFIED LAST MONTH BY CIRCULAR LETTERS OF THE WHICH WILL TAKE EFFECT FROM APRIL 1.

THE REVISION DOES NOT, HOWEVER, APPLY TO THE PRESENT WESTERN TEMPORARY WHOLESALE POULTRY MARKET WHICH ONLY CAME INTO OPERATION IN OCTOBER 1987.

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