Punjab tourism properties to be sold

Punjab government has decided to divest all the 29 properties of loss-making Punjab Tourism Development Corporation by December this year, a corporation official said in Chandigarh on Monday.

The 29 properties, including one at the international border at Wagah, would be divested separately, PTDC managing director Jagjit Puri told PTI.

He said 17 expressions of interest have been received for three tourist complexes and a 'holiday home club'. The bidders include a UK-based non-resident Indian Bob Kular, who deals in power and properties.

Puri said the divestment process has been handed over to Hyderabad-based Karvy Investor Services who are evaluating each of the 29 properties.

Karvy vice president P B Ramanujam said the 17 bidders included Delhi-based Siddartha Hotel, and Chandigarh-based Piccadilli and Maya Palace Hotel.

Ramunjam said during the next 10 days the bidders could inspect the three tourist complexes and the 'holiday home club', including title deeds, tax papers, balances sheets etc, and make their bids in sealed covers. The reserve price will be fixed once the bids are received.

Ramanujam said the bids for four properties would be opened in the middle of August. Nothing was due against these properties, which have been offered for divestment after obtaining no-dues certificates from excise, power, telecom and other authorities, he added.

He said notice inviting expressions of interest for nine more tourist resorts would be issued on August two. The remaining 16 properties would be sold off by December.

The nine properties to be put up for divestment in the second lot are tourist complexes at Sanghol (Ropar), Jalandahr, Ropar Pathankot, Shambu (Patiala), Faridkot, Khanauri, Dasuya (Hoshiarpur) and Kapurthala.

Puri said the state cabinet has decided that buyers would be allowed to change the nature of the property.

He said successful bidders would not have to inherit the employees as 300 out of a total of 360 corporation employees have already taken voluntary retirement.