'Backlog Of Funding Requests Will Need To Wait'
"); jQuery("#212 h3").html("

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1466915_1_20190706121059.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1466915-20190706.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1466915-20190706.htm', 'DCS.dcsqry', '' ); } } }); }); });
2019-07-06 HKT 12:10
The chairman of the Legislative Council's Finance Committee, Chan Kin-por, said on Saturday the vetting of a backlog of funding requests will probably have to wait until the new legislative year begins in October.
The committee had been due to consider more than 40 items before the summer break, including hospital expansion and pay rises for civil servants.
Chan said his committee now has nowhere to meet, after protesters stormed the Legco building on Monday. He estimated the cost of repairing the building would cost as much as HK$70 million.
"Basically it is not safe for everyone – for the Legco members, for the public, for the government officials, for the staff there," he said.
"So unless we can resolve that problem, I think it is not reasonable, or even fit at all, to have the meeting there."
Chan said they may have to wait until October and then substantially increase the number of hours the committee will meet for, so outstanding items can be cleared.
However, Democratic Party lawmaker James To said he sees no reason why the Finance Committee cannot just meet in other Legco rooms that were relatively unscathed by Monday's storming.
To questioned whether there were other motives for not wanting to hold the committee meetings within Legco.
"It's normal, we have a room, so we do it," he said. "And if those items, we believe, are not controversial, then why worry about safety, security?"
EX.IO Partners With Franklin Templeton To Expand Tokenised Assets In Hong Kong
EX.IO, a licensed virtual asset trading platform in Hong Kong, has formed a strategic partnership with global investmen... Read more
HKMC Prices HK$12 Billion Digital Bond Issuance, Largest Globally
The Hong Kong Mortgage Corporation Limited (HKMC) has priced its inaugural digital bond issuance, raising approximately... Read more
MUFG, SMFG And Mizuho Plan Joint Yen Stablecoin By March 2027
Three of Japan’s largest financial groups, MUFG, SMBC, and Mizuho, plan to jointly issue a stablecoin by March 2027, ... Read more
TransUnion Launches Free Credit Reports For Lost HKID Holders In Hong Kong
TransUnion is offering a one-time free credit report to eligible individuals in Hong Kong who have lost their Hong Kong... Read more
Why HSMs Are Becoming Essential For Digital Asset Key Security
Conversations revolving around digital asset finance often return to the blockchain, but Shaun Chen’s concern sits cl... Read more
Webinar: The Deepfake Threat And What APAC Financial Institutions Are Doing About It
Generative AI is making fraud more convincing and easier to scale. Reports of Gen AI-enabled scams rose 456% between Ma... Read more