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Loan proposal for airport projects

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LEGISLATOR Samuel Wong Ping-wai yesterday proposed lending $40 billion from the future civil service pension fund for the construction of Chek Lap Kok airport and its rail link.

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Mr Wong said the Government was running short of at most $30 billion.

Although the civil service pension fund has yet to be set up, Mr Wong said the $40 billion could come from a reserve set aside by the Government.

Mr Wong, the Legco representative for engineers, said the proposal had been made by one of his constituents and some Chinese officials had expressed interest in it.

He said extending a loan to the future Airport Authority and the Mass Transit Railway Corporation would safeguard a certain rate of return for the pension fund.

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A Chinese official said the idea would be considered only after Britain had promised to set up the fund.

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