IPC mandate likely to be extended

After the failure of the Cyprus talks in Crans-Montana, Switzerland, all eyes are turned on the Immovable Property Commission (IPC).

The commission’s term of operation expires in December 2017 and the expectations are for this to be extended.

According to information acquired by Turkish Cypriot daily ‘Detay’, it is the coalition government’s aim to extend the IPC’s mandate and also to set a budget of 15 billion pounds sterling to refill its empty coffers, so that the commission can pay out compensation.

The paper also writes that after the failure of the Cyprus negotiations in Switzerland, applications for property compensations to the committee, which had seen a remarkable decline in the past couple of years, are expected to increase.


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