The Immovable Property Commission (IPC) in the north – charged with compensating Greek Cypriots who lost their property during 1974 – expects that the number of Greek Cypriot applying for compensation will increase over the coming days and months.
Ayfer Said Erkmen, the head of the commission, has said that after July’s collapse of the Conference on Cyprus in Crans-Montana, hopes of a settlement have diminished, and more Greek Cypriots will be looking to be compensated through the IPC.
Erkmen told Turkish Cypriot newspaper Havadis, the IPC is having difficulties in paying out compensations allocated as the coalition in the north is not executing their duty towards the commission.
The head of the IPC said that the main problem is that Turkey is not providing the necessary funds to the commission in the fashion it used to do.
The reason behind this is that Turkey is demanding the implementation of legislative amendments to allow the Turkish Cypriot authorities to contribute to the compensations paid out. The regulation in question has been dubbed as the “The Contribution Law” and has been waiting to be discussed by the assembly since 2014.
Subsequently, the number of applications put forward by the Greek Cypriots had reduced significantly, said the head of the IPC.
In a previous interview Erkmen had said that a total of £2 billion is needed to settle the remaining applications which are currently outstanding.