XN000022-1995-11-28 — Page 5

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On minor rural improvement works, Mr Patten said $50 million was spent in 1994-95 and that $150 million would be spent this year.

"In 1994-95, the Lands Department pledged that it would deal with 500 applications for small house grants. In fact it exceeded its pledge by over 1,200," he added.

Mr Patten said these were just a few examples of the spirit of service to the community that the administration brought to all its work.

"I am sure that with the support, advice and encouragement of the Heung Yee Kuk, even better things will be achieved as the community of Hong Kong continues to build its future together," the Governor said.

End/Tuesday, November 28, 1995

HYF fare rise approved by ExCo

The Governor-in-Council today (Tuesday) approved a fare increase by a weighted average of 13.96 per cent for the Hongkong and Yaumati Ferry Company (HYF) to take effect in mid January next year.

HYF last revised its fares in July 1994. With falling patronage and increasing operating costs, the company incurred a loss of $19.7 million last year and is expected to incur a substantial loss this year.

In approving the fare increase, the Governor-in-Council took a number of factors into account, including the financial position of HYF and that the company had been providing an acceptable level of service.

It had also considered the fact that HYF had introduced a number of service improvements despite its financial difficulties and the impact the fare increase would have on the Consumer Price Index (A), that is by only 0.01% of a percentage point.