Secretary for Development Paul Chan says criticism of a proposed arbitration scheme to determine land premium is premature, and the Government will ensure its transparency and credibility.
Speaking to the media after attending a radio programme today, he said the Government will be careful in devising arbitration rules and selecting an arbitrator.
To ensure transparency, the Government will announce the key rationale behind arbitrators' decisions and the amount of land premium determined. Any possible conflict of interests will be fully taken into account in the panel selection, and in devising the scheme, he added.
The Lands Department is working with the Department of Justice in setting the rules, and consulting stakeholders, including arbitrators and other professionals.
