Pact signed for formation of multi-modal commuting system

A pact was signed today by the governments of Haryana, Punjab and Chandigarh Administration for formation of Greater Chandigarh Transport Corporation (GCTC) for developing a comprehensive integrated multi-modal urban and sub-urban commuting system for the region.
The GCTC will be formed for the development of comprehensive integrated multi-modal urban and sub-urban commuter system for the region comprising Union Territory of Chandigarh (UTC) and its surrounding areas in the states of Haryana and Punjab, an official release said here.
The initial equity of GCTC shall be Rs 100 crore which would be equally contributed - 25 per cent each by Union Ministry of Urban Development, Chandigarh Administration and governments of Haryana and Punjab.

The transport projects in the region will be implemented by GCTC.
The Board of Directors of GCTC shall have three representatives from the Union Ministry and two each from Union Territory of Chandigarh, and governments of Haryana and Punjab.
The Secretary, Union Ministry of Urban Development, will be the ex-officio Chairman of the Corporation.

The full-time Managing Director of the Corporation shall be appointed by the central government in consultation with Board of Directors of GCTC, the release added.
The Corporation will undertake various studies and projects for the development of public transport service in the region and shall also get the projects implemented and undertake operations and maintenance with the option to implement the projects through Public Private Partnership.

The MoU was signed in the presence of Haryana Governor Kaptan Singh Solanki, who is also Governor of Punjab and Administrator, Chandigarh Union Territory.