Saturday, September 23, 2023
PTDC to lease out properties located in AJK, GB

PTDC to lease out properties located in AJK, GB

HP Newsroom

The federal government of Pakistan, after getting the consent of stakeholders in Azad Jammu & Kashmir and (AJK) Gilgit Baltistan (GB), has approved the leasing out of the properties under the charge of Pakistan Tourism Development Corporation in these regions.

As per details, all the properties which are located in AJK and GB will be leased out to the private sector after the approval of the federal government of Pakistan.

All the lease agreements will be signed under public-private partnership model and the revenue generated with the help of these agreements will be first utilized to cover the earlier losses while fifty percent of the overall profit would be given to the governments of AJK and GB for the promotion of tourism in these areas. The remaining fifty percent profit would be used by the PTDC for the uplift of tourism in Pakistan.

However, the leasing out of the properties would be held through open bidding where everybody can participate and acquire the desired property.

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