Hong Kong lawmakers urge delay of non-urgent construction projects amid budget deficit - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
Contact Phone:
Economy

Hong Kong lawmakers urge delay of non-urgent construction projects amid budget deficit

share-iconTuesday, January 07 comment-icon2 weeks ago 6 views
News sources:
scmpSCMP
Hong Kong lawmakers urge delay of non-urgent construction projects amid budget deficit

Credited from: SCMP

  • Hong Kong lawmakers have urged the government to **postpone less-urgent construction projects** to address a **projected budget deficit** of nearly **HK$100 billion** (US$12.8 billion).
  • This follows the comments from **Financial Secretary Paul Chan**, who indicated a need to prioritize public works while maintaining sustainable finances.
  • Among the discussed projects is a proposed **HK$600 million to HK$700 million gallery** on the Wan Chai waterfront, which has faced scrutiny over its necessity and cost.
  • Lawmakers suggested **breaking projects into stages** or merging them to conserve resources and enhance cost-effectiveness.
  • There is also a call for a review of the **bidding process** for infrastructure projects to promote competition and potentially lower costs.

For more details, visit the original article at South China Morning Post.

SHARE THIS ARTICLE:

TAGS:

Hong kong Lawmakers Public projects Budget deficit Construction
author-dp

Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

nav-post-picture
date-iconJanuary 07, 2025 Trump Asks Supreme Court to Block Sentencing in New York Hush Money Case
date-iconJanuary 07, 2025 Macron calls Trump a ‘solid ally’ while urging Ukraine to engage in realistic negotiations
nav-post-picture
Related Posts
main-post-image
POLITICS
Jimmy Lai Denies Foreign Collusion While Acknowledging Push for US Sanctions Against Officials
date-iconJan 22, 2025
main-post-image
POLITICS
Hong Kong Minister Demands Report as Greater Bay Airlines Faces Cancellation Crisis
date-iconJan 22, 2025
main-post-image
POLITICS
Republican Senators Divided Over Trump's Pardons for January 6 Rioters
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Hong Kong's New Tourism Blueprint: Embracing Technology and Inclusivity to Enhance Visitor Experience
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Hong Kong's Tourism Revitalization: Embracing Technology and Innovation
date-iconJan 21, 2025
main-post-image
WORLD NEWS
Daniil Medvedev Smashes Camera in Frustrated Outburst During Australian Open Match
date-iconJan 14, 2025

Stay Connected

main-post-image
Politics
Transition Uncertainty: Who Will Lead the Pentagon When Trump Takes Office?
date-icon January 18, 2025
main-post-image
World News
Explosions Rock Kyiv as Russia Targets Capital with Missile Strikes
date-icon January 18, 2025
main-post-image
Politics
Mike Pence's Group Calls on Republicans to Reject RFK Jr. Nomination Due to Abortion Stance
date-icon January 16, 2025
main-post-image
Health
Unlock Stunning Hair with Natural Amla and Aloe Vera Treatments
date-icon January 15, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD