Rs1b endowment fund created for tourism promotion

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Islamabad

With an aim to promote tourism in the country, Pakistan Tourism Development Corporation (PTDC) is moving forward briskly on materializing creation of an endowment fund worth Rs one billion. After the federal government leaped forward to fulfill its commitment for exploring more tourist destinations in the country, PTDC followed the suit with drafting rules for the fund and their early notification.
‘An endowment fund titled ‘Pakistan Tourism Development Endowment Fund’ (PTDEF) has been created with seed money of Rs 1 billion to promote tourism across the country,’ Pakistan Tourism Development Corporation (PTDC) Managing Director Syed Intikhab Alam told APP. The government has set up an endowment fund of Rs one billion to execute its marketing plans for promotion of the country’s unexplored scenic sites and tourists resorts at local and international level.
‘The PTDEF would be formally launched shortly as rules for its operation and management had been sent to the Finance and Law Division for vetting,’ Intikhab said, highlighting the Pakistan Tehreek-e-Insaf (PTI) government’s one-year performance in the tourism sector. The fund, principally approved by the government in May, would bring financial sustainability in executing the projects for tourism promotion, he added.
Intikhab said the fund would be utilized for marketing and projection of tourist destinations, besides holding research, studies and surveys in tourism industry. The government, Intikhab said, had also constituted the National Tourism Coordination Board (NTCB) to enhance liaison between federation and provinces, besides taking all necessary steps to turn Pakistan into a world class tourist destination.—APP