XN000022-1989-05-10 — Page 14

WEDNESDAY, MAY 10, 1989

12

THE GOVERNMENT GENERAL REVENUE A MONETARY POLICY

HOWEVER, HE SAID IT WOULD BE INAPPROPRIATE FOR TO PUT THE PROCEEDS FROM THE ISSUE OF BILLS INTO THE

BORROWING WAS то PURSUE IF THE PURPOSE OF THE OBJECTIVE.

"THE PROCEEDS MUST BE FOR THE ACCOUNT OF THE EXCHANGE FUND MANAGED ALONG WITH OTHER ASSETS OF THE FUND," HE SAID.

AND

THE "IF WE WERE TO TAKE THE MONEY INTO

DEFICIT FINANCING GOVERNMENT MIGHT DRIFT INTO PURSUING MONETARY POLICY.

REVENUE, GENERAL

UNDER THE GUISE

THE

OF

AND USE OF THE

SECRETARY SHALL

BE

EXERCISED

EXCHANGE THAT IN

||

FURTHER

ΤΟ SUBJECT

THE

CLOSE

"AS TO ACCOUNTABILITY, THE CONTROL FUND IS GOVERNED BY THE EXCHANGE FUND ORDINANCE, WHICH SPECIFIES THE

FINANCIAL CONTROL OF THE CONSULTATION WITH AN EXCHANGE FUND ADVISORY COMMITTEE.

THE ACCOUNTS OF THE FUND WERE

SCRUTINY OF THE DIRECTOR OF AUDIT, HE ADDED.

MORE TIME

* PRESENTATION OF ESTIMATES: ON A SUGGESTION THAT SHOULD BE GIVEN FOR THE DRAFT ESTIMATES TO BE STUDIED, MR JACOBS SAID

TO ADVANCE IT WOULD BE DIFFICULT

THE PREPARATION OF THE VARIOUS

BUDGET DOCUMENTS.

THE APPROPRIATION "THE ACTUAL PASSAGE OF

BILL THROUGH THIS ΤΟ

BUT I COUNCIL ALREADY REQUIRES A 10-WEEK PERIOD

COMPLETE,

ESTIMATES PUBLISH THE DRAFT CERTAINLY CONSIDER WHETHER WE COULD LITTLE EARLIER OR EXTEND THE TIME ALLOTTED TO THE APPROPRIATION AND ALSO WHETHER ADDITIONAL INFORMATION CAN BE PROVIDED.

AND PRESENTATION OF THE "WE DO REVIEW THE FORMAT

BE KEPT IN EACH YEAR AND THE POINTS MADE WILL CERTAINLY SAID.

WILL A BILL,

ESTIMATES VIEW, HE

*

ON

WHICH

THE CONCERN OF A NUMBER OF OF VIETNAMESE BOAT PEOPLE, WAS NOW RUNNING AT ITS HONG KONG'S RESOURCES TO

CRISIS A

IN TERRITORY FACING

* VIETNAMESE BOAT PEOPLE: MEMBERS ABOUT THE PROBLEM OF THE INFLUX

INFLUX, RECENT MR JACOBS SAID THE HIGHEST LEVEL FOR 10 YEARS, HAD STRETCHED THE

LIMIT, AND HAD ACCOMMODATION AND MANPOWER.

LEFT

THE

HE SAID THIS WHOLE QUESTION WAS TO BE THE SUBJECT OF NEXT WEDNESDAY (MAY 17), WHEN THE ADMINISTRATION WOULD GIVE REPLY ON THE POINTS RAISED BY MEMBERS.

/13

A

A

DEBATE FULLER