Dharamshala – The Central Tibetan Administration (CTA) has successfully repaid most of its public debts after the landmark shift in its economic policy “privatisation of the (sick) business units owned by the CTA” Finance Kalon Lobsang Nyandak Zayul said in a floor speech on Friday last.
In response to a starred question on the financial health of the CTA, Kalon Zayul also said that the privatisations of over 27 business enterprises have netted 155.5 million rupees, with further 70 million rupees in the offing, from the privatisation of Hotel Tibet in Dharamshala and Gangtok, and the sale of two immovable properties.
The main thrust of the current economic policy is to make CTA financially self-reliant, Kalon Zayul, who is also the Kalon for Information and International Relations, reiterated on the last day of the monsoon session of the Assembly of the Tibetan People’s Deputies.
“In order to create reliable and sustainable sources of funds, efforts have been beefed up to improve the system of mobilising voluntary contributions from Tibetans across the globe.
“And to boost the corpus fund of the CTA, we have initiated the Blue Book Project, organised special fund raising activities in various places, and approached foreign donors,” the Kalon said.
The Central Corpus Fund is invested in secure and risk-free financial institutions primarily to generate revenue, on a sustainable basis, for the administrative expenses of the CTA for its lifetime.
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