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AUSTRALIAN GOVT SCHEME TO FIX MAJOR RIVER TOO SMALL, TOO CHEAP.

AsiaPulse News

| June 02, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, June 2 Asia Pulse - The Australian federal government's A$12.9 billion (US$12.3 billion) rescue plan for the Murray-Darling Basin could take 47 years to complete without destroying the existing water market, an independent report says.

Last month the government completed the buyback of A$50 million worth of water entitlements as the first step in its plan to remove 1500 gigalitres of water from the system over the next 10 years.

But the plan has been labelled as too small, too cheap and one which could take too long according to a study by leading water brokers Waterfind.

The study warns that the ...

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