Wednesday, December 1, 2021
HomeTourism NewsPakistan TourismGovt to lease out PTDC properties in G-B, AJ&K

Govt to lease out PTDC properties in G-B, AJ&K

ISLAMABAD: The Federal Government has decided to lease out properties of Pakistan Tourism Development Corporation (PTDC) in Gilgit-Balistan (GB) and Azad Jammu and Kashmir (AJ&K) on the basis of competitive bidding, official sources told Business Recorder.

Sharing the details, sources said, the Federal Cabinet had directed Cabinet Division to work out a mechanism, in consultation with the provinces/ regions, for handing over assets of PTDC along with related HR and liabilities to respective provinces and regions. The Cabinet Division, keeping in view the corporate status of the PTDC, proposed that the matter may be placed before the PTDC Board of Directors (BoDs) for finalizing the requisite mechanism of transfer.

The mechanism for transfer of properties to the provinces had been finalized and approved by the PTDC Board of Directors, and the same would be separately placed before the Federal Cabinet for consideration after developing consensus with the respective…

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