PTDC earns net profit of Rs 109 lakhs

Chandigarh, Apr 21: Punjab Tourism Development Corporation (PTDC) had earned a profit of Rs 55.44 lakh in the year 2005-06 and a tentative profit of Rs 109 lakh in the current financial year till February, which was likely to increase further with addition of the profit earned in March.

Secretary Tourism and Managing Director PTDC, Mr Jagjit Puri today said with the disinvestment of 10 properties, the Corporation received a sum close to Rs 85,21 crore.

Out of the total receipt, the Corporation has returned a sum of about Rs 6 crore to the State Government, which were taken as a loan in particular for clearing the liabilities of the Corporation. The Corporation also cleared the liabilities towards employees of the Corporation, party payments and statutory payments amounting to more than Rs 29 crore.

PTDC also deposited a sum of Rs 39.27 crore in the State treasury through Department of Tourism.

The Corporation, which had been left with an estimated Rs 8.62 crore, was seeking permission to utilise these funds for the promotion of tourism in the State, Mr Puri further said.

UNI