According to a notification issued on July 2, PTDC has closed operations of all 36 of its motels within the north and terminated all 400 of the workers there. consistent with a notification issued on July 2, Pakistan Tourism Development Corporation (PTDC) has closed operations of all 36 of its motels within the north and terminated all 400 of the workers there.
The decision comes after Prime Minister Imran Khan announcement of reopening the tourism industry last month. However, the notification read that the PTDC had been affected by losses continuously.
“Due to continuous and irreparable financial losses having no other resource and therefore the current Covid-19 pandemic, the federal and PTDC Board of Directors unanimously resolved to shut down the operations of the corporate ,” the notification stated.
Furthermore, it said that the federal and therefore the PTDC had done an “in-depth analysis of this situation, and consideration of the facts and circumstances and within the best interest of the workers , company and shareholders for survival and future viability, the corporation was left with no other option but to require these painful decisions”.
National Tourism Coordination Board (NTCB) Chairperson Sayed Zulfikar Abbas Bukhari also reached bent assure the folks that they don’t plan on shutting down the PTDC but are rather performing on the restructuring of the corporation.
Aftab Rana, one among the members of the NTCB, remarked that the motels had already been closed thanks to the COVID-19 pandemic.
“However, it’s already been decided that the federal would withdraw from the business mode of the corporation and exclusively promote tourism which its properties are going to be privatised,” he said.
The corporation had amassed losses of around Rs 1 billion. “It has been running on taxpayers’ money and only paying salaries to an unproductive staff. There was no income being generated through its properties.
“It may be a hard decision to shut down these operations, but keeping of these considerations in sight the govt has decided to privatise PTDC properties. there’s no other option,”
PTDC had offered $1.4 billion package as a severance agreement to all or any its employees within the north. However, the workers took the interest the court.