Tung Chee-hwa was accused yesterday of issuing a blank cheque to sell the first batch of 25,000 public rental flats next year with no concrete plans on how this will be done.
While officials defended the plan, some provisional legislators were not happy with it.
Deputy Secretary for Housing Andrew Wells said the Government planned to sell 250,000 public rental flats to existing tenants in the next 10 years.
This was one of the strategies to realise Mr Tung's objective of achieving 70 per cent home ownership in the next decade, Mr Wells said.
The price of each flat would be calculated in accordance with the replacement cost, which comprised building construction costs, overheads and development.
Mr Wells said no more details had been drawn up so far on flat sales, despite the fact the first batch of 25,000 flats would be put on the market early next year. Housing Department deputy director Stephen Poon Sing-chi said the Government had not decided which kind of public rental flats should be sold first.
