An independent corporation should be established to manage the government's investments and returns after its assets are privatised, says legislator Eric Li Ka-cheung.
Mr Li, who represents the accountancy sector in Legco, made the appeal as he criticised the government for being 'directionless and irresponsible' in its dealings with Hong Kong's two railway corporations, in which it is the major shareholder.
Speaking on RTHK's Letter to Hong Kong programme yesterday, Mr Li said authorities had adopted an incoherent and irresponsible attitude towards operating the railways.
While the Mass Transit Railway Corporation had been partially listed, Mr Li criticised the government for holding on to the Kowloon and Canton Railway Corporation without any concrete plans for privatisation.
'Worse still, it then put the two corporations into an orchestrated competition, which is neither fair nor productive,' Mr Li said.
He also attacked the government for putting pressure on the MTRC to cut fares while threatening to take away its right to develop property, which he said went against the interests of other shareholders.
