A panel of experts submitted a report to the government Thursday, recommending the existing Chief Executive remuneration package apply to the next CE elected on July 10, before a new deal is drawn up for the person elected in 2007.

The report made by the Independent Commission on Remuneration Package & Post-office Arrangements for the Chief Executive has set out its recommendations on issues relating to the office of the Chief Executive. The government will study the recommendations and brief the Legislative Council on its position after consulting the Executive Council.

Panel chairman Wong Po-yan said while the existing package should continue to apply after July 10, "the new arrangement should be implemented in July 2007 when the third term CE assumes office."

In line with the remuneration arrangements for Principal Officials under the Accountability System, the commission said the new deal should be a total cash package with benefits.

The package cost will be the same as the existing one, yielding an annual remuneration of around 4 million HK dollars (512,821 US dollars), 12.5 percent more than the existing annual pay of the Chief Secretary for Administration.

"The new arrangement will not entail any extra financial burden to taxpayers," Wong said.

The commission recommends the government provide a suitable permanent residence for future chief executives. However, if the chief executive chooses not to move into the residence, they will have to meet their own accommodation needs.

Source: Xinhua