XN000022-1991-05-15 — Page 30

WEDNESDAY, MAY 15, 1991

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NO PROPOSALS YET FOR CIVIL SERVICE PAY

COMMENTING ON PRESS REPORTS TODAY (WEDNESDAY) ABOUT A PROPOSED PAY RISE FOR CIVIL SERVANTS, A GOVERNMENT SPOKESMAN SAID NO DECISION HAD YET BEEN MADE ON THE LEVEL OF ADJUSTMENT.

HE SAID THE STANDING COMMISSION ON CIVIL SERVICE SALARIES AND CONDITIONS OF SERVICE HAD COMPLETED A PAY TREND SURVEY ON THE PRIVATE SECTOR BUT THIS WAS JUST THE BEGINNING OF A SERIES OF STEPS THAT HAD TO BE TAKEN BEFORE A DECISION WAS REACHED.

"THE FIGURES QUOTED ARE ONLY THE RESULTS OF A SURVEY OF PAY TRENDS IN THE PRIVATE SECTOR, THE SPOKESMAN SAID.

*

"THEY HAVE YET TO BE FORMALLY ACCEPTED BY THE PAY TREND SURVEY COMMITTEE WHICH COMPRISES REPRESENTATIVES OF THE STANDING COMMISSION, THE STANDING COMMITTEE ON DISCIPLINED SERVICES, STAFF COUNCILS AND THE ADMINISTRATION.

"THE RELEVANT STAFF COUNCILS WILL THEN BE INVITED TO SUBMIT PROPOSALS ON THE PAY ADJUSTMENT. THEIR VIEWS WILL BE CONSIDERED BEFORE A SUBMISSION IS FINALLY PUT TO THE EXECUTIVE COUNCIL."

THE SPOKESMAN FURTHER POINTED OUT THAT THE PAY TREND INDICATORS WERE ONLY ONE OF THE CONSIDERATIONS IN REACHING A DECISION ON LEVEL OF PAY ADJUSTMENT.

THE

"OTHER FACTORS ALSO TAKEN INTO ACCOUNT ARE THE STATE OF THE ECONOMY, BUDGETARY CONSIDERATIONS AND THE COST OF LIVING," HE ADDED.

"THE DECISION ON PAY ADJUSTMENT WILL NEED TO BALANCE THE INTERESTS OF THE GENERAL PUBLIC AND CIVIL SERVANTS, HAVING REGARD TO PREVAILING ECONOMIC AND BUDGETARY CONDITIONS,' THE SPOKESMAN STRESSED.

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HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

*

HEEF

DATE

$ MILLION

CLOSING BALANCE IN THE ACCOUNT ON

14.5.91

480

EFFECT OF FORWARDS TO BE SETTLED ON

15.5.91

+40

EFFECT OF OPERATIONS THIS MORNING

-40

EFFECT OF OPERATIONS THIS AFTERNOON

NEUTRAL

TRADE WEIGHTED INDEX 112.1 -0.3* 15.5.91

HONG KONG

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