Lawmakers in Cyprus are looking at a new plan. This plan is about properties lost in the north of the island. This has been a problem since 1974. This week, a committee met to discuss a new law. This law will help people who lost land and buildings. They are talking about how to pay for it. They are also deciding when payments will start.
The problem started with an invasion in 1974. Many people had to leave their homes. They lost houses, farms, and businesses. The government knows this is hard for them. However, a good payment system has not been available until now. This new law tries to fix this old problem. It will create a clear system for giving money.
The plan includes a small tax. This tax will be 0.4% on property sales in the south. This could bring in about €20 to €25 million each year. Also, they might use money not spent by another government agency. This agency deals with economic issues after the island was divided. The government thinks this agency can manage the payments.
However, the money expected might not be enough. Nikos Kettiros, who leads the committee, has worries. He said the small payments show they need more money. He believes about 40% of people might get only €2 each month. This is very little money. It makes people wonder if the plan will really help.
Lawmakers must decide when payments will begin. They can start from 1974 or from when the new law is passed. This is an important choice. It affects how much money is needed. It also affects how fair the compensation feels. New rules are coming soon. They will show how Cyprus plans to help people with lost properties. This issue still affects many people on the divided island. The plan will only work if there is enough money.