J&K and Bihar take over ITDC hotels
In continuation of the disinvestment policy of the Government, the Cabinet Committee on Economic Affairs has approved further disinvestment of Indian Tourism Development Corp Ltd’s (ITDC) properties by transferring incomplete projects to Jammu & Kashmir and Bihar state Governments.
The decision will see handing over of the incomplete project of Hotel Gulmarg Ashok, Gulmarg, to Jammu & Kashmir Government, and Hotel Patliputra Ashok, Patna, to Bihar Government, respectively.
As per the disinvestment policy, it has been decided to lease, sublease ITDC hotels, properties, units, Joint Ventures (JVs) jointly with the State Governments.
Where State Governments were not agreeing to the proposal of leasing, sub-leasing, the properties may be returned back to the State Governments at its officially valued price.
The policy views are that running and managing hotels on professional lines is not the job of Government or its entities.
The ITDC has to date transferred ITDC properties, units, JVs: Hotel Lake View Ashok, Bhopal; Hotel Brahmaputra Ashok, Guwahati; Hotel Bharatpur Ashok, Bharatpur; Hotel Janpath, New Delhi (to Ministry of Housing and Urban Affairs); Hotel Lalitha Mahal Palace, Mysore; Hotel Donyi Polo Ashok, Itanagar; and Hotel Jaipur Ashok, Jaipur to the concerned State Governments, according to a release on the Public Information Bureau on 26 Sept 2018. fiinews.com
