The Native Land Trust Board has today confirmed that the interim government has to provide about 8 million dollars to the NLTB to subsidies the increase in lease rental for landowners.
It has been established that native landowners will receive more money from July this year following the interim cabinet's approval to increase payments on the Unimproved Capital Value of their land given out on lease from about 5 to 10 percent.
NLTB Public Relations Manager, Ro Alipate Mataitini said the total amount that is expected to come out from government coffers will be about 8 million dollars for this year.
Mataitini said with the increased rental income for native land, the landowners may not reject the renewal of their land leases.
The increased lease rental is only for this year and the interim cabinet is expected to make further decisions for 2009.
Interim Govt has to provide $8m to NLTB
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