XN000022-1993-07-27 — Page 4

TUESDAY, JULY 27, 1993

3

IN

THE COMMITTEE WILL CONTINUE THE DISCUSSIONS AT THE NEXT MEETING AUGUST. IT REMAINS TAC'S TARGET TO HAVE THE NEW FARES COMING INTO EFFECT IN NOVEMBER.

ON THE NLB FARE INCREASE APPLICATION, MEMBERS NOTED THAT WITHOUT A FARE INCREASE, NLB IS EXPECTED TO EARN A NEGLIGIBLE AFTER- TAX PROFIT OF $0.29 MILLION IN 1993/94.

THE COMPANY'S FINANCIAL POSITION WILL FURTHER INCUR A LOSS OF $1.33 MILLION IN 1994/95.

DETERIORATE TO

THE TAC ALSO NOTED THAT THE CONSUMER PRICE INDEX (A) IS EXPECTED TO INCREASE BY 11% BETWEEN NLB'S LAST FARE REVISION IN AUGUST LAST YEAR AND SEPTEMBER THIS YEAR.

IN MAKING RECOMMENDATIONS ON NLB'S PARE INCREASE APPLICATION FOR CONSIDERATION BY THE GOVERNOR IN COUNCIL, THE TAC ALSO TOOK NOTE OF THE FACT THAT NLB HAS CONTINUED TO IMPROVE ITS SERVICE IN TERMS OF AVAILABILITY, MAINTENANCE AND SAFETY STANDARDS AND HAS TAKEN A NUMBER OF MEASURES TO CUT DOWN ITS OPERATING COST.

ON TRANSPORT CONCESSIONARY SCHEMES FOR THE ELDERLY, WERE INFORMED THAT THE HEALTH AND WELFARE BRANCH HAD FORMED AN DEPARTMENTAL WORKING GROUP TO STUDY THE ISSUANCE OF A SENIOR CARD TO ENABLE THE ELDERLY ΤΟ TAKE FULL ADVANTAGE OF CONCESSIONARY SCHEMES OFFERED BY PUBLIC TRANSPORT OPERATORS.

MEMBERS NOTED THAT VARIOUS OPTIONS WERE BEING EXAMINED AND THAT A DECISION WOULD SOON BE TAKEN.

MEMBERS

INTER- CITIZEN VARIOUS

CLOSELY

THE COMMITTEE WAS ALSO BRIEFED ON A $900 MILLION PROGRAMME UNDERTAKEN BY KOWLOON-CANTON RAILWAY CORPORATION ΤΟ REFURBISH AND EXPAND THE KOWLOON STATION TO COPE WITH THE ANTICIPATED GROWTH IN RAIL TRAFFIC.

AGREEMENT ON WATER SUPPLY FROM GUANGDONG

* * * * *

FOLLOWING JULY 5-8, BETWEEN WATER

THE SUCCESSFUL MEETINGS IN GUANGDONG DURING OF OFFICIALS FROM THE GUANGDONG PROVINCIAL BUREAU

AND CONSERVANCY

HYDRO-POWER AND FROM THE HONG KONG GOVERNMENT, APPROVAL HAS NOW BEEN FORMALLY GIVEN BY THE EXECUTIVE COUNCIL IN REGARD TO THE RECOMMENDATIONS ARISING FROM THE MEETING.

THESE

RECOMMENDATIONS PROVIDE FOR THE

CONTINUING IMPLEMENTATION OF THE 1989 AGREEMENT, UNDER THE TERMS HONG KONG PURCHASES RAW WATER TO MEET GROWING NEEDS.

SUCCESSFUL WHICH

OF

THE

AND QUANTITIES

BASE PRICES FOR THE NEXT AGREED DURING THE NEGOTIATIONS, ARE:

THREE

YEARS,

+

/PERIOD