PUBLIC funds could be boosted by around $4 billion if plans to sell under-utilised government sites are backed by Beijing.
Last year the disposal of four unwanted government plots reaped $1.4 billion. Nine sites have been targeted for sale this year.
But the redevelopment programme will remain on hold until it is discussed by the Sino-British Land Commission. As yet no date has been fixed for a meeting.
Seven of the nine areas have to be included with new sites in the 1993-94 land disposal programme, which must be authorised by the Chinese side. Two were approved last year, but only sold in January.
Despite the Government's effort to step up the programme of redeveloping under-utilised sites, the controversial Oil Street site in North Point, which is the headquarters and storage depot of the Government Supplies Department, is still not included in this year's sale list.
The Director of Audit and the Legislative Council Public Accounts Committee criticised inadequate planning and management for the delay in deciding how to relocate the depot.
