Hong Kong finance chief seeks to save up to HK$10b on public works projects
John Tsang asks Development Bureau to set up multi-disciplinary office to conduct comprehensive review of public works guidelines
Financial Secretary John Tsang Chun-wah has launched a race against time to cut the cost of public projects in the coming three years by up to HK$10 billion, amid criticism about the cost-effectiveness and auditing of public works.
With a slew of projects running over budget in recent years, Tsang announced on Wednesday he had asked the Development Bureau to set up a multi-disciplinary office to conduct a comprehensive review of public works guidelines.
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The office will also look at reducing unnecessary designs and contractual requirements for 300 major projects in the next three years.
He also said he had urged departments to invite tenders before submitting funding applications to the Legislative Council.
He told a television programme on Thursday: “It would be a good thing if we can save HK$100 billion in three years.”
But hours later he clarified in the Legislative Council that the figure was just his “wishful thinking”.
“If we can save billions or even HK$10 billion, I would be very happy. This is an important issue. I have already asked the Development Bureau to set up the multi-disciplinary office to enhance the supervision of project costs,” he said.
