SSIS Unable to cast COM object of type

Issue in SSIS: Unable to cast COM object of type

To fix the problem do the following:

1. Open the command prompt (run it as administrator)
2. Navigate to C:\Program Files\Microsoft SQL Server\90\DTS\Binn
3. Run C:\Program Files\Microsoft SQL Server\90\DTS\Binn>regsvr32 dts.dll