XN000022-1992-09-10 — Page 6

THURSDAY, SEPTEMBER 10, 1992

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IT WILL CONNECT WITH THE WESTERN END OF THE LANTAU FIXED CROSSING, FORMING PART OF AN EXTENSIVE TRANSPORT NETWORK LINKING THE NEW AIRPORT AT CHEK LAP KOK TO THE URBAN AREAS OF HONG KONG,

CONSTRUCTION OF THE EXPRESSWAY IS DIVIDED INTO THREE SECTIONS:

TAI HO, YAM O AND TUNG CHUNG.

THE CONTRACT FOR THE TAI HO SECTION WAS AWARDED IN JUNE THIS YEAR, WHILE TENDERS FOR THE TUNG CHUNG SECTION WILL BE INVITED LATER IN THE YEAR.

THE YAM O SECTION WILL RUN BETWEEN TSING CHAU TSAI AND TA PANG PO ON LANTAU. IT WILL BE BUILT PARTLY ON HILLSIDE AND PARTLY ON RECLAIMED LAND.

WORKS WILL ALSO COMPRISE THE FORMATION OF RESERVES FOR THE PROPOSED AIRPORT RAILWAY AND PUBLIC UTILITIES, RUBBLE MOUND SEAWALL, PRESTRESSED CONCRETE BRIDGES AND A PEDESTRIAN SUBWAY.

THE CONTRACT AWARD FOR YAM 0 WAS APPROVED BY THE CENTRAL TENDER BOARD TODAY (THURSDAY).

WORK WILL START NEXT WEEK AND BE COMPLETED IN FOUR YEARS' TIME.

THE GOVERNMENT RECEIVED TENDERS FROM SEVEN PREQUALIFIED CONSORTIA, WITH TENDER SUMS RANGING FROM $1,336 MILLION TO $1,893 MILLION.

LEVY ON OUTBOUND PACKAGE TOUR FARES TO FALL

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A GOVERNMENT SPOKESMAN ANNOUNCES TODAY (THURSDAY} THAT THE FINANCIAL SECRETARY HAS APPROVED A REQUEST FROM THE TRAVEL INDUSTRY COUNCIL (TIC) TO REDUCE THE EXISTING LEVY ON OUTBOUND FARES FROM 1 PER CENT TO 0.5 PER CENT.

PACKAGE TOUR

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"THE LEVY REDUCTION IS SUBJECT TO TWO CONDITIONS FIRST, THE TRAVEL INDUSTRY COUNCIL RESERVE FUND (TICRF) HAS ALREADY ACCUMULATED A RESERVE OF $100 MILLION; AND SECONDLY, THE TICRF HAS RESOLVED ΤΟ INCREASE THE RATE OF COMPENSATION TO AGGRIEVED OUTBOUND TRAVELLERS FROM THE PRESENT 70 PER CENT TO 80 PER CENT OF THE PACKAGE TOUR FARE, THE SPOKESMAN SAID,

LEVY

AS

THESE CONDITIONS HAVE NOW BEEN MET, BOTH THE REDUCTION IN AND THE INCREASE IN COMPENSATION WILL TAKE EFFECT NEXT TUESDAY (SEPTEMBER 15).

THE LEVY AND COMPENSATION ADJUSTMENTS ARE PART OF A REGULATORY REFORM PACKAGE AGREED BETWEEN THE ADMINISTRATION, TIC AND TICRF THE PURPOSES OF ENHANCING PROTECTION TO OUTBOUND TRAVELLERS STRENGTHENING THE SELF-REGULATORY ROLE OF THE TIC.

FOR

AND

/THEIR INTRODUCTION