Advisor for ITDC sell-off by Dec

NEW DELHI, NOV 8: The Ministry of Tourism is committed to initiate the disinvestment process for the ITDC hotels before the close of this calendar year. The ministry has already issued advertisements for a financial advisor who would assist in the implementation of disinvestment in the public sector undertaking which is in the business of hotels, duty free shops and tourist transport services, among other things.

According to a highly-placed official in the Ministry of Tourism, the financial advisor, in all probability, will be appointed before December 31. 8220;The process must start,8221; he added. Last year, the ministry had issued an advertisement for a financial advisor who was to give a second opinion on the disinvestment commission8217;s advice and then based on the government8217;s recommendations, initiate process of divestment in the PSU.