GTDC registers net profit of Rs 40 lakhs; approves new proposals

Date:
20.09.2013

 ~GTDC has bounced back with a profit of Rs. 40 lakhs due to pro-active and professional management

~Optimistic about developing properties and services to enhance tourism in the state

~Board has decided to introduce VRS scheme for employees

Panjim: The Board of Directors of Goa Tourism Development Corporation (GTDC) in its 131st meeting held on September 17, 2013 took some of the following major decisions/approved the following proposals, keeping in mind the development of tourism in the state.

GTDC roars back with profits:

The Balance Sheet and Profit and Loss Account for the year ending March, 2013 were approved. After suffering a major loss of over Rs six crore in 2011-12, the GTDC due to its pro-active and professional management of its assets turned around this year and bounced back by reporting a net profit of Rs. 40 lakhs.

Mr Nilesh Cabral, Chairman, GTDC mentioned that this was only possible due to the professional management and the efforts of GTDC. He added that the Corporation has also taken efforts to utilize its idle assets and generate revenue by developing properties of Tourism Department by open tenders.

VRS Scheme:

The Board also decided to implement VRS scheme for its employees so as to reduce the excess manpower and to contain the salary burden incurred by GTDC. This will enable GTDC to save outflow of salary and associated costs thereby enabling it to become lean and professionally managed organization. This scheme will be implemented after obtaining approval by the State Government.