XN000022-1994-06-08 — Page 27

WEDNESDAY, JUNE 8, 1994

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INVESTMENT IN PUBLIC HOUSING EXCEEDS $200 BILLION

THE GOVERNMENT HAD INVESTED OVER $200 BILLION AT TODAY'S PRICES THE TREASURY, MR IN PUBLIC HOUSING DEVELOPMENT, THE SECRETARY FOR DONALD TSANG, INFORMED THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

THE PUBLISHED ACCOUNTS OF THE HOUSING

FOR THE AUTHORITY

WAS THE SUM, $66.22 BILLION FINANCIAL YEAR 1992/93 SHOWS THAT, AMONG THE

1973, VALUE OF

BY THE GOVERNMENT SINCE APRIL LAND PROVIDED

WAS

CAPITAL INJECTIONS $26.28 BILLION

THE PERMANENT AND ADDITIONAL

OF MARKET VALUE OF SINCE 1988, WHILE $18.06 BILLION WAS THE EXCESS LAND OVER LAND COST.

TOGETHER

WITH

CONTRIBUTIONS TO OTHER ITEMS,

THIS

BRINGS

THE

TOTAL TO $125.88 BILLION.

WING-TAT, MR

HISTORICAL

IN A WRITTEN REPLY TO A QUESTION BY THE HON LEE

THE REPRESENTED TSANG NOTED THAT ALL THE ABOVE FIGURES VALUE OF GOVERNMENT'S INVESTMENTS UP TO MARCH 31 LAST YEAR.

"TOGETHER WITH THE VALUE OF ADDITIONAL LAND FOR PUBLIC HOUSING TOTAL INVESTMENT AT PRESENT VALUR IS

MR TSANG SAID.

THE 1993/94,

PROVIDED IN ESTIMATED TO BE WELL OVER $200 BILLION,

"

-

0

—

SEWAGE SERVICES TRADING FUND

* * * * *

THE FINANCE COMMITTEE HAS APPROVED AN INITIAL CAPITAL OF $6,800 MILLION FROM THE CAPITAL INVESTMENT FUND BE INJECTED INTO THE DRAINAGE SERVICES DEPARTMENT'S SEWAGE SERVICES TRADING FUND TO HELP FINANCE THE HIGH PRIORITY PROGRAMME OF THE SEWAGE STRATEGY.

SUBJECT TO APPROVAL BY THE LEGISLATIVE COUNCIL OF THE NECESSARY LEGISLATION, OPERATING COSTS OF SEWAGE SERVICES WOULD BE RECOVERED THROUGH SEWAGE CHARGES, THE SECRETARY FOR THE TREASURY, MR DONALD TSANG, SAID.

IN A WRITTEN REPLY TO A QUESTION BY THE HON FUNG KIN-KEE IN THE

COUNCIL

"WE TODAY (WEDNESDAY), MR TSANG SAID: LEGISLATIVE

ARE NOT CONTEMPLATING FURTHER CAPITAL INJECTIONS AT THIS STAGE."

AS FOR THE ELECTRICAL AND MECHANICAL SERVICES DEPARTMENT WHICH IS MOVING TOWARDS INCREASED COMMERCIALISATION IN ITS

TSANG MR

SAID IT MIGHT NEED AN UPFRONT

(EMSD) OPERATIONS, CAPITAL IN THE EARLY YEARS OF A TRADING FUND OPERATION.

INJECTION

OF

"IN THAT CASE, WE WOULD CONSIDER GRANTING EMSD A LOAN RATHER THAN AN EQUITY INJECTION FROM THE CAPITAL INVESTMENT FUND,

11

HE SAID.

BUT NO FIRM CONCLUSIONS ON TIMING OR THE AMOUNT REQUIRED BEEN REACHED, HE ADDED.

HAVE

/MEANWHILE, PLANS