Hong Kong authorities have vowed to develop a long-term road map for the city’s struggling self-financing postal operator and keep an “open-mind” on all options, including privatisation or turning it into a traditional department. Acting Secretary for Commerce and Economic Development Bernard Chan Pak-li revealed the move at the Legislative Council’s economic development panel meeting on Tuesday, saying the proposed HK$4.6 billion (US$587 million) cash injection to Hongkong Post was intended to...
Satheesan addressed the State Level Bankers’ Committee, his first after taking over as Chief Minister
Hong Kong authorities are seeking to inject HK$4.6 billion (US$587 million) into the government-owned postal service provider to sustain its operations for the next three years, following eight years of losses and declining mail volume. A document submitted to the Legislative Council on Wednesday by the Commerce and Economic Development Bureau showed a bruising fiscal trajectory for the Post Office Trading Fund (POTF) of Hongkong Post since 2017-18. Self-financing since 1995, Hongkong Post has...
Resource mobilisation panel directs officials to plug leakages and explore options
Of the ₹5,000 crore allocation, the Board decided to earmark ₹2,900 crore for micro and macro development projects, with 70% of the amount to be spent on micro-level works, and 30% on major infrastructure and development projects
Hong Kong authorities have allocated HK$5 billion (US$638 million) in funding for efforts to safeguard national security, bringing the total amount earmarked for this purpose to HK$18 billion over the past five years, an official document has revealed. The South China Morning Post’s check on the government’s general revenue expenditure accounts for the financial year ending in March 2026, showed a non-recurrent expenditure of HK$5 billion earmarked for a “special fund to meet the expenditure for...
State spent Rs. 1.1 lakh crore in 2025-26 under these heads
State’s outgoing Finance Minister rebuts V.D. Satheesan’s allegation that UDF is inheriting an empty treasury; cites a cash balance of approximately ₹6,000 crore