ISLAMABAD: The government is set to start the process of handing over assets of the Pakistan Tourism Development Corporation free of cost to the provinces.

Sources told Dawn on Monday that a meeting would be held at Flashman Hotel in Rawalpindi to hand it over to Punjab on Tuesday.

It was decided earlier that the process would be started from Khyber Pakhtunkhwa by handing it PTDC assets and resorts, but it appeared that the decision has been changed to please the PML-N government in Punjab.

According to sources, Prime Minister Nawaz Sharif had taken a notice of media reports two weeks ago about starting the process without evaluation of PTDC assets and ordered the authorities concerned to adopt a proper procedure.

Then Finance Minister Ishaq Dar put the PTDC on the list of state entities to be privatised after getting approval from the Council of Common Interests.

But it appears that the ministry of inter-provincial coordination (IPC) has ignored the directive of the prime minister as well as the decision of the finance minister and decided to hand over PTDC assets to the provinces.

A senior official of the IPC ministry, Furqan Bahadur, who is serving as acting Managing Director of the PTDC, said: “I am busy somewhere, please call me tomorrow.”

According to a document of the IPC ministry, a meeting of the PTDC board has decided that a liquidator will be appointed to evaluate the worth of corporation’s assets spread all over the country after making adjustments of their current liabilities, including financial dues of employees like gratuity, leave encashment, provident fund and other benefits to the deceased and retiring employees.

It was decided earlier that after evaluation under the companies ordinance, the corporation will be wound up accordingly prior to the transfer of its properties to the provinces.

If the decision of the IPC ministry is implemented, the KP will benefit most because majority of the PTDC resorts are located in the province.

IPC ministry’s Secretary Faridullah Khan had earlier said the PTDC resorts and other assets were being handed over because of pressure being exerted by the provinces.

He said that only administrative control of PTDC assets would be given to the provinces and their value would be calculated later so that their cost could be obtained from the provinces.

After passage of the 18th Amendment, the tourism ministry was devolved, but the fate of PTDC, its assets and employees remained undecided.

The IPC ministry had brought out an advertisement in print media for the appointment of a liquidator, but the process was not completed.

Surprisingly, the decision of the PTDC board was bulldozed by its secretary, Zaffarullah Siddiqui, at a meeting held in the IPC ministry on July 4. It was decided that no liquidator would be appointed and the properties/assets of the PTDC will immediately be handed over to provinces on geographical basis.