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In response to comments on the viability of trading funds, Mr Kwong said that the audited accounts of the Companies Registry and Land Registry, which have been operating under trading funds since 1993, clearly showed that both were financially viable and were generating healthy operating surpluses as intended.
The Post Office and the Office of the Telecommunications Authority have yet to submit their first accounts as trading funds, but their draft unaudited accounts show that both are operating successfully as planned.
"Upon the establishment of the EMSTF, detailed accounts of the Fund are required to be tabled in the Legislative Council annually for the scrutiny of Councillors," Mr Kwong said. "This makes the operation of the Department much more transparent and accountable.'
On the question of staff relations, the Director of Electrical and Mechanical Services is confident that the setting up of the EMSTF will not result in staff redundancies as new business opportunities arise in the coming years. Nevertheless, to address their worries, he has reassured staff that the Department will make full use of redeployment, retraining and natural wastage to deal with any staffing issues if they arise.
The Director has also assured them that provided all staff are willing to participate in meeting the challenges of the Department's business developments in future, no existing staff would be made redundant or forced to retire early.
Mr Kwong said that there have been extensive briefings and consultations with staff and over 500 of them have already received special training in commercial practices to prepare them for the establishment of the trading fund, in addition to the many improvement initiatives which are already under way.
"We understand that staff are concerned about job security. However, it is also our duty to strive to make continuous improvement in the services which we provide in the interests of the public," he added.
The Administration will table a Resolution to establish the EMSTF on June 26, 1996 to the Legislative Council for it to be set up from August 1, 1996.
End
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