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HA's Corporate Plan and Budget for 2013/14 endorsed
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The following is issued on behalf of the Housing Authority:

     In 2013/14, the Housing Authority (HA) will focus its efforts on providing quality homes, promoting sustainable living, optimising and rationalising the use of public resources and enhancing the attractiveness of its commercial properties.

     At its regular open meeting today (January 24), the HA Members endorsed the Corporate Plan for 2013/14 which sets out the above four main themes covering a total of 40 key activities and 19 key performance indicators of the Authority's work in the year.

     "In formulating the proposed plan for 2013/14, we have reviewed the latest situation in Hong Kong and its impact on the HA's work. We note that the community has attached great importance to addressing the housing needs of various sectors, including the low-income group and the first-time home buyers, etc. In 2013/14, we will continue to closely monitor the demand for public rental housing (PRH) and adjust the rolling production programme as appropriate, with the target to maintain the average waiting time for general Waiting List applicants at around three years. We will endeavour to identify suitable sites for development of both PRH flats and Home Ownership Scheme (HOS) flats," said a spokesman for the HA.

     Moreover, the HA will continue to focus on enhancing safety in PRH estates and at the HA's workplaces, encouraging mutual care and support in the community, assisting those who are in financial hardship, and making cost-effective use of resources.

     Apart from endorsing the 2013/14 Corporate Plan, the HA Members also approved the 2012/13 revised budget and the 2013/14 proposed budget, and noted the financial forecasts for 2014/15 to 2016/17.

     The HA will remain in a steady financial position in the short to medium term, and will have sufficient financial resources to meet its recurrent expenditure and implement its current public housing construction programme and maintenance programme. However, the HA's cash and investment balance is projected to decrease significantly in the coming few years, mainly due to the projected price increase in construction costs and operating costs, as well as the additional construction costs for the new HOS.

     The HA spokesman said that given the challenges ahead, the HA will remain vigilant and continue to closely monitor the possible financial impact of changes in the public housing construction programme, the increase in construction costs, and the volatility of financial markets. The HA will continue to manage its finance in a prudent manner to ensure cost-effectiveness in achieving its policy objectives.

Ends/Thursday, January 24, 2013
Issued at HKT 18:04

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