The Union Cabinet on July 22 has approved the establishment of an Integrated Multi-purpose infrastructure Development Corporation for the Union Territory of Ladakh.
- The Cabinet also approved the creation of one post of Managing Director, for the corporation in the pay scale of Rs.1,44,200- Rs.2,18,200 level.
- The authorized share capital of the Corporation will be Rs.25 crore and recurring expenditure will be around Rs. 2.42 crore per year.
- It is a new establishment. Presently, there is no such similar organization within the newly formed UT of Ladakh.
- Corporation will work for industry, tourism, transport and marketing of local products and handicraft. Corporation will also work as main construction agency for infrastructure development in Ladakh.
- The establishment of corporation will result in inclusive and integrated development of the Union Territory of Ladakh. This will, in turn, ensure socio-economic development of the entire region and population of the Union Territory.
