Business Economy


HPTDC capable of running Wildflower Hall : Bali

Shimla, Apr 26 (UNI) Chairman of the Himachal Pradesh Tourism Development Corporation (HPTDC) and first-time MLA from Nagrota Bagwan Raghubir Singh Bali announced on Saturday that the Corporation is fully capable of efficiently managing the prestigious five-star Wildflower Hall hotel if entrusted with the responsibility by the state government.
Speaking to media persons at Hotel Holiday Home, Bali confirmed that while the government has currently decided to continue its partnership with the Oberoi Group for managing Wildflower Hall, HPTDC remains prepared to take over if given the opportunity. He expressed confidence that under the leadership of Chief Minister Sukhvinder Singh Sukhu—renowned for his commitment to state hospitality—HPTDC would be able to manage this iconic property successfully.
Bali highlighted that although HPTDC aspires to develop and run five-star hotels independently, financial constraints currently pose a challenge. The Corporation has requested Rs 300 crore from the state government for the maintenance and upgradation of its existing properties, with funding support expected from the Asian Development Bank (ADB) project.
Under Bali’s leadership, HPTDC has made remarkable financial strides. Over the past two and a half years, it disbursed Rs 41 crore towards pending employee dues and retirement benefits. The Corporation’s turnover rose dramatically from Rs 65 crore to Rs 109 crore, achieving a record performance, with projections indicating a turnover of Rs 107 crore by the end of the financial year.
He acknowledged that the previous Jai Ram Thakur government had provided Rs 25 crore to HPTDC employees, but emphasized that the current administration has cleared a far greater amount in pending dues, totaling Rs 41 crore.
To further enhance operational efficiency, HPTDC signed a Memorandum of Understanding with the Civil Supplies Corporation and the Food Corporation of India (FCI) to procure rations and hotel supplies exclusively through public sector companies. This move is expected to save crores of rupees annually, thereby improving services and benefiting employees. Mr. Bali explained that approximately Rs 45 crore worth of ration and supplies, previously sourced from the open market, would now be procured from FCI to ensure both quality and cost savings.
Addressing the policy on bookings, Bali clarified that government bookings at HPTDC accommodations are billed after services are rendered, while private clients are required to make advance payments, adhering to the directions of the Himachal Pradesh High Court.
He proudly announced that under his leadership, HPTDC has recorded profits for two consecutive years—the first time in the Corporation’s history. Despite natural calamities and market challenges, HPTDC achieved its highest-ever turnover, demonstrating a successful turnaround.
Commenting on broader tourism prospects, Bali stressed that while tragedies elsewhere should not be seen as opportunities, the government hopes for the revival of tourism sectors across India, including Kashmir, with improved security measures to restore travelers' confidence.
He reiterated that despite limited financial support from the state, HPTDC is determined to reinvest its profits into employee welfare and the development of its properties. Efforts are being intensified to boost the occupancy rates of all properties, including those currently operating at a loss.
UNI ML SJC
More News

Telangana to Mandate EVs in Urban Growth Zone Despite Rs ₹2,000 Cr Revenue Loss: Revanth

07 Jun 2026 | 1:38 AM

Bengaluru/Hyderabad, June 6 (UNI) Telangana Chief Minister A. Revanth Reddy today said the state government has decided to mandate the use of electric vehicles (EVs) within the Core Urban Region Economy (CURE) zone despite an estimated annual revenue loss of Rs ₹2,000 crore, as part of its long-term vision to build a sustainable economy.

see more..

Telangana’s Singareni refutes KTR's Coal Stock Allegations, Says Only 26 51 Lakh Tonnes Available

07 Jun 2026 | 12:17 AM

Hyderabad, June 6 (UNI) State-owned Singareni Collieries Company Limited (SCCL) today rejected allegations made by BRS Working President K.T. Rama Rao (KTR) regarding the alleged disappearance of nearly 40 lakh metric tonnes of coal worth around Rs ₹1,600 crore, clarifying that the company had only 26.51 lakh tonnes (2.651 million tonnes) of coal stock as of June 4, 2026.

see more..

Tata Trusts board meeting on Monday to discuss Tata Sons listing, Chandrasekaran's extension

06 Jun 2026 | 7:23 PM

Mumbai, Jun 6 (UNI) The forthcoming Tata Trusts board meeting on June 8, Monday, is expected to discuss sensitive issues like the potential listing of Tata Sons, whether Tata Sons Chairman N Chandrasekaran must be given an extension and also deliberate on Tata Trusts Vice Chairman Venu Srinivasan's complaint regarding a promoter trust, according to company officials.
The Tata Trusts collectively own about 66% of Tata Sons, giving them significant influence over the holding company's governance and long-term direction through the veto powers available to their nominee directors.

see more..

Tata Steel UK targets restart of hot strip mill after fire

06 Jun 2026 | 7:16 PM

Mumbai, Jun 6 (UNI) Tata Steel has officially informed the stock exchange that it plans to restart the Hot Strip Mill at its Pickle Line facility at its Port Talbot site in Wales, by the middle of next week, after a fire incident earlier this week.

see more..

Industrial policy regains spotlight, design and governance to determine success: IMF

06 Jun 2026 | 7:12 PM

New Delhi, June 6 (UNI) Governments across the world are increasingly turning to industrial policy to strengthen strategic sectors, secure supply chains and boost economic resilience in the face of geopolitical and economic shocks, but the success of such interventions remains far from guaranteed, according to the International Monetary Fund (IMF).

see more..