Government Calls Off More Timber Auctions as Bidders Stay Away

Source:  The Cambodia Daily / July 19, 2016 by Aun Pheap

The government has canceled yet another round of auctions aimed at selling off part of the 71,000 cubic meters of illegally logged wood seized by authorities earlier this year due to near-complete lack of interest.

Soung Mengkea, an undersecretary of state at the Ministry of Finance, said a series of seven auctions in Mondolkiri province set to begin on Monday and run through Friday was called off because not a single person applied to bid for the timber.

The first lot, 26,000 cubic meters valued at $4.7 million, was to go under the gavel on Monday at the Dai Nam plantation, where authorities found the wood.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s