Delhi transfers incomplete projects of Hotel Gulmarg Ashok to J&K Govt

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Srinagar

In continuation of the disinvestment policy of the Government of India, the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has approved to further disinvestment of ITDC properties/units / JVs by way of transfers of Incomplete Project of Hotel Gulmarg Ashok, Gulmarg to the State Government of Jammu and Kashmir.

The spokesman said that as per the disinvestment policy of the Government of India, it had been decided to lease /sub­lease the India Tourism Development Corporation Limited (ITDC) hotels/ properties/ units/ Joint Ventures (JVs) jointly with the State Governments and 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 had been formulated keeping in view that running and managing hotels on professional lines is not the job of Government or its entities.

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