In a hard blow to the economy, Pakistan Tourism Development Corporation (PTDC) has shut down all of its motels in the country's north and sacked all its employees citing financial losses and the decisions of the federal government, among other reasons.
The corporation issued a notification for the media on Thursday, stating that the decision was taken due to the irreparable and continuous financial losses. It cited "having no other [financial] resource as well as current Covid pandemic, decisions of the federal government and PTDC BOD" as the reasons for the closure.
https://twitter.com/hyzaidi/status/1278606931897266176
It added that the decision was taken following in-depth analysis of the present situation and consideration of the facts and circumstances in the company and in the best interest of the employees, company and shareholders for survival and future viability. "The company was left with no other option but to take these painful decision," the notification added.
In March last year, the PTDC decided to shut down six of its units and restaurants at the motels, saying they were operating at losses continuously. The six premises included a motel in Taxila, Punjab, Chattar Plain and Chakdara, Khyber Pakhtunkhwa, Astak, Gilgit-Baltistan, Khuzdar, Balochistan, and Daman-e-Koh restaurant in Islamabad. Ironically, in the same month, Prime Minister Imran Khan had announced a plan to open the country for tourists.
The corporation issued a notification for the media on Thursday, stating that the decision was taken due to the irreparable and continuous financial losses. It cited "having no other [financial] resource as well as current Covid pandemic, decisions of the federal government and PTDC BOD" as the reasons for the closure.
https://twitter.com/hyzaidi/status/1278606931897266176
It added that the decision was taken following in-depth analysis of the present situation and consideration of the facts and circumstances in the company and in the best interest of the employees, company and shareholders for survival and future viability. "The company was left with no other option but to take these painful decision," the notification added.
In March last year, the PTDC decided to shut down six of its units and restaurants at the motels, saying they were operating at losses continuously. The six premises included a motel in Taxila, Punjab, Chattar Plain and Chakdara, Khyber Pakhtunkhwa, Astak, Gilgit-Baltistan, Khuzdar, Balochistan, and Daman-e-Koh restaurant in Islamabad. Ironically, in the same month, Prime Minister Imran Khan had announced a plan to open the country for tourists.