Japan To Set Up Body On Reforms

Hashimoto, who was re-elected Prime Minister on Thursday, told a news conference the governments aim was to take the initiative in pushing for administrative reforms.

I would like to set up a body that reports directly to me as soon as possible and start active discussions within this month, Hashimoto said. He said he hopes to submit bills to the regular session of Parliament in 1998 to enact measures recommended by the body after it has considered the issue.

Hashimoto said the members of his administrative reform body would be made up mainly of professors and people from the private sector.

He said he will aim for administrative reform within five years and implement a new system by January 1, 2001. But I hope to carry out reforms on the laws governing the Bank of Japan and finance ministry, including the issue of separating the inspection function of the financial industry from the ministry, Hashimoto said.

Other important areas in which reforms should be carried out are the nations economic structure, social security, state finances and the financial system, he said.

There is a need to review our financial system from the very start, Hashimoto said.