IPC to Pay 68 Million Pounds Compensation

Transport Minister - Erhan Arikli - PM Unal Ustel
[Minister of Public Works and Transport Erhan Arıklı – Prime Minister Ünal Üstel]
Prime Minister Ünal Üstel announced that approximately 68 million pounds will be paid for a total of nearly 200 applications that have been concluded with compensation decided by the Immovable Property Commission (IPC) up to the end of 2020 and do not contain disputes, Yeniduzen reports.

 Üstel stated that payments of the said compensation amounts have begun to be paid and will be fully paid within 2-3 months. 

Speaking at Ercan Airport, Ünal Üstel announced that approximately 68 million pounds will be paid for a total of nearly 200 applications that have been concluded with compensation decisions by the Immovable Property Commission until the end of 2020 and do not contain disputes through a study conducted with funds and the Central Bank. 

Üstel, who said that the said compensation amounts have started to be paid and will be fully paid within 2-3 months, said, “We will continue to demonstrate our determined stance on the effective operation of the Immovable Property Commission as an effective domestic remedy within the framework of international legal criteria”.

In a report by Yeniduzen in January 2024, the Chairman of the Immovable Property Commission (IPC), Növber Ferit Veçhi, stated that  properties addressed in cases concluded by the commission gain legitimacy in international law, preventing further disputes. Veçhi stated that as of January 12, 2024, the IPC had received 7,473 applications, with 1,502 cases concluded. The total compensation awarded reached £422,109,211 sterling.

Additionally, various types of decisions, such as restitution, post-solution restitution, compensation and restitution, exchange and compensation, and partial restitution, had been made. Furthermore, under the Acapulco Law (Law No. 13/2008), 30 applications for permission to sell and transfer properties between Turkish Cypriots and Greek Cypriots, involving leases of three years or longer, were received, 12 of which were resolved in favour of Turkish Cypriots.

She also clarified that the commission does not handle payments; instead, it falls under the responsibility of the Ministry of Interior and Ministry of Finance.

Yeniduzen

Other Stories

Ads Blocker Image Powered by Code Help Pro

Ad Blocker Detected

We have detected that you are using extensions to block ads. Please support us by whitelisting our website in your ad blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock