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TUESDAY, AUGUST 20, 1974/
SECONDLY, THE JAPANESE BID WAS SUBJECT TO A DEADLINE FOR ACCEPTANCE WHILE THE BIDS OF THE OTHER TWO CONSORTIA WERE NOT.
MR. HADDON-CAVE DESCRIBED THE GOVERNMENT'S ACCEPTANCE OF THE JAPANESE BID AS +NOT AN EASY DECISION TO REACH.+
HE EXPLAINED THAT WHILE ACCEPTANCE OF THE BID WOULD ENSURE AN EARLY START AT A KNOWN COST WITH THE GOVERNMENT'S PRICE CEILING AND WOULD RESULT IN A FINANCIALLY VIABLE PROJECT, THE INSISTENCE ON A GOVERMMENT GUARANTEE WOULD MEAN THAT THE GOVERNMENT WOULD HAVE TO UNDERWRITE THE DEDT REPAYMENT.
+THIS,+ HE SAID, +COULD HAVE SERIOUS FISCAL CONSEQUENCES.+
SPEAKING ON THE MASS TRANSIT RAILWAY PROVISIONAL AUTHORITY, THE FINANCIAL SECRETARY SAID THE AUTHORITY WAS NOW CONSIDERING DRAFT LEGISLATION TO CREATE THE MASS TRANSIT RAILWAY CORPORATION.
+THE INTENTION IS TO BRING THE CORPORATION INTO BEING AS SOON AS A FORMAL CONTRACT HAS BEEN SIGNED WITH THE JAPANESE CONSORTIUM,+ HE SAID.
HE ADDED THAT THE RECRUITMENT OF THE CORPORATION'S CHIEF OFFICERS WAS +REARING SUCCESSFUL COMPLETION.+
IN ADDITION, THE AUTHORITY IS RECRUITING TO SOME 420
POSTS TO START THE ENGINEERING DEPARTMENT.
TO UNDERP IN THE CHIEF OFFICERS, THE PROVISIONAL AUTHORITY'S SECRETARIAT IS BEING EXPANDED TO INCLUDE SOME 50 POSTS IN MANAGERIAL, ACCOUNTING, SECRETARIAL, CLERICAL AND ADMINISTRATIVE OCCUPATIONS.
MR. HADDON-CAVE ISSUED TWO WORDS OF WARNING.
HE WARNED OF +A PERIOD OF UNAVOIDABLE DISRUPTION TO THE ENY IRONMENT+ DURING THE CONSTRUCTION OF THE RAILWAY. HE GAVE AN ASSURANCE THAT THE GOVERNMENT AND THE CORPORATION WOULD TRY THEIR VERY BEST TO KEEP THIS WITHIN TOLERABLE LIMITS.
SECONDLY, HE SAID THE RAILWAY MUST NOT ONLY PROVIDE AN ADEQUATE PUBLIC TRANSPORT SERVICE BUT ALSO REMAIN VIABLE.
+THIS,+ HE SAID, +WILL MEAN CHARGING ECONOMIC FARES AB INITIO AND HAVING THE MAINTENANCE OF AN ECONOMIC FARE STRUCTURE AS A CONSTANT AIM.+
HE SAID THE CORPORATION MUST NEVER DEPART FROM THIS AIM AND THE GOVERNMENT, WOULD, AS FAR AS POSSIBLE, NOT ALLOW IT TO DO SO.
/+BUT IF,
*
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