XN000022-1991-06-26 — Page 9

WEDNESDAY, JUNE 26, 1991

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TREASURY PURCHASES NO FOREIGN CURRENCIES FORWARD

THE GOVERNMENT'S PRESENT POLICY IS THAT THE TREASURY DORS NOT FORWARD, THE FINANCIAL SECRETARY, SIR PIERS JACOBS, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

PURCHASE FOREIGN CURRENCIES

REPLYING TO A QUESTION BY THE HON MARTIN BARROW, SIR PIERS SAID EXCHANGE RISK FOR THE GOVERNMENT AS A WHOLE WAS MANAGED BY THE OFFICE OF THE EXCHANGE FUND, TAKING INTO ACCOUNT THE GOVERNMENT'S REQUIREMENTS FOR FOREIGN CURRENCY PAYMENTS.

THE FINANCIAL SECRETARY AGREED THAT IT WAS TIMELY THAT THE GOVERNMENT SHOULD TAKE A FRESH LOOK AT THE WHOLE QUESTION OF HOW BEST TO PROTECT The GENERAL REVENUE, AS DISTINCT FROM THE GOVERNMENT'S TOTAL RESERVES INCLUDING THE EXCHANGE FUND, AGAINST FOREIGN EXCHANGE EXPOSURE.

UNDERTAKE A SIR PIERS SAID HE HAD ASKED THE FINANCE BRANCH TO REVIEW, THE OUTCOME OF WHICH WOULD BE MADE KNOWN TO THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL IN DUE COURSE.

1,579 NEW VACANT UNITS IN URBAN THA'S

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AS AT JUNE 15 THIS YEAR, THERE WERE 1,579 NEW VACANT UNITS IN THE URBAN TEMPORARY HOUSING AREAS (THA'S), REPRESENTING EIGHT PER CENT OF A STOCK OF NEARLY 19,500, THE ACTING SECRETARY FOR HOME AFFAIRS, THE HON ALBERT LAM, INFORMED THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

IN A WRITTEN REPLY TO A QUESTION FROM THE HON TAM YIU-CHUNG, MR LAM SAID ON AVERAGE, THESE UNITS HAD BERN VACANT FOR ABOUT 27

MONTHS.

IN ADDITION, THERE WERE 658 LETTABLE CASUAL VACANCIES, HE SAID.

MR LAM POINTED OUT THAT MOST OF THE VACANT THA UNITS WERE FOR REHOUSING FAMILIES AFFECTED BY CLEARANCES WHO WERE UNABLE TO MEET THE SEVEN-YEAR RESIDENCE CRITERION FOR REHOUSING IN PUBLIC RENTAL HOUSING, AND THE REMAINDER WERE FOR THE RELIEF OF OVERCROWDING IN THA'S.

"VACANCIES IN NEW THA'S ARISE MAINLY BECAUSE AN INCREASING NUMBER OF CLEAREES AND EXISTING THA TENANTS ARE NOW ABLE TO MERT ELIGIBILITY CRITERIA FOR PUBLIC RENTAL HOUSING FOLLOWING RELAXATION OF RESIDENCE REQUIREMENTS IN 1990," HE SAID.

THE

THE

"TO REDUCE THE NUMBER OF VACANT UNITS, THE HOUSING AUTHORITY WILL USE MORE OF THESE VACANCIES TO RELIEVE OVERCROWDING.

ΤΟ "FOR OPERATIONAL REASONS, THE AUTHORITY WILL NEED RESERVE A NUMBER OF VACANT UNITS TO ACCOMMODATE VICTIMS OF DISASTERS, AND EVACUEES FROM UNSAFE BUILDINGS, MR LAM ADDED.

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