5
"We estimate that the amount of existing outstanding entitlements stands at about 6.75 hectares of equivalent building land. Out of them, 4.68 hectares are held by property developers.
"Sufficient land has been made available in 1996-97 to redeem all the 6.75 hectares of outstanding commitments."
The spokesman noted that about 2.07 hectares of entitlements would likely remain untraceable and would not surface.
"It is hoped that holders of these entitlements would note the implications of this Ordnance and exchange the entitlements for land before the Ordinance comes into operation."
NT land exchange entitlements were issued between 1960 and 1983 to landowners in the NT whose land was required for development. Holders of these entitlements are entitled to exchange the entitlements for land or cash. The issue of entitlements was stopped in 1983 because of increasing difficulties in meeting the exchange commitment.
End
Some progress on telecommunications accord
The Secretary for Trade and Industry, Miss Denise Yue, said today (Friday) that in parallel discussions at this week's Singapore Ministerial Conference (SMC), there had been some progress registered on the negotiations on basic
telecommunications.
"I welcome the significant number of new or improved offers announced over recent weeks or in the course of this week. New offers are forthcoming from four World Trade Organization (WTO) members. Another has advised that it is seriously studying and considering making an offer. Seven WTO members have advised that they will also improve their offers."
Miss Yue said that this increased participation was a demonstration of some political will to bring these negotiations to a successful conclusion on February 15, 1997 and that if more new and improved offers come forward, these would be welcome so as to ensure the success of the telecommunications negotiations.