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UGC welcomes Finance Committee's approval of 2004/05 university funding

The Chairman of University Grants Committee (UGC), Dr Alice Lam, today (Feb 27) welcomed the decision of the Legislative Council's Finance Committee in approving the sum of $10,657.8 million for the UGC funded institutions for the 2004/05 academic year.

She said that the decision reached had removed the uncertainty faced by the sector in the planning of its activities for the upcoming academic year.

While the allocation will represent approximately a 10% efficiency savings demanded from the UGC-funded sector, the Committee is confident that, through the hard work of the institutions, this can be achieved without adversely affecting education quality.

Dr Lam said that she was glad to see the Administration had continued to invest heavily in the higher education sector, which was of paramount importance to the long term development of Hong Kong.

She highlighted that the UGC would take a strategic approach to Hong Kong's higher education system so that it could serve as the education hub of the region.

In this respect, she emphasised the need for each institution to perform their specified role and capitalise on their unique areas of strengths, as well as deeply to collaborate with institutions within and outside Hong Kong.

In connection with the above, it is noted that the Finance Committee has also approved a sum of $203.1 million to be top sliced in 2004/05 by the UGC to support restructuring and collaboration activities of the institutions for implementing initiatives which will help achieve greater value and quality for money, and realign activities of the institutions in accordance with their roles.

Friday, February 27, 2004