CONFIDENTIAL
Phasing of expenditure
It is estimated that expenditure will be phased over
months as follows:
First quarter 1990
HK$ Millions
120
Second quarter 1990
115
Third quarter 1990
31
Fourth quarter 1990
28
First quarter 1991
Second quarter 1991
13
13
TOTAL
320
some 18
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Private notes are available after approval.