Supply
p. 20 · Read in the full issue
Port Moresby Water Supply Derails of Financial Plan
Prom Our Own Correspondent
Port Moresby Feb 5
rpHE total estimated cost of the Port ± Moresby water supply, as planned by the Commonwealth Government stands at £48,050, of which the Common wealth will contribute £12,000. The bal ance of £36,850 will be loaned to the Papuan Administration by the Common wealth.
Any additional cost, due to economic conditions arising out of the war, will be met by the Commonwealth to the extent °£ cent - of the estimated cost of £48,050.
The terms of the loan are, interest at 3 4 per cent, per annum, over a period of 40 years. Maintenance charges, and profit or loss, to accrue to the Common wealth and the Papuan Administrations in proportion to the capital contributed by the two authorities.
The Commonwealth will pay only for water supplied to its ships. The defence forces will not pay for water.
The old water supply loan (of which the balance still outstanding is £1996) is to be repaid to the Commonwealth on the present basis. The annual payment for this is £3OO, while that for the new loan will be approximately £lBOO.