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PIA-owned Roosevelt hotel not being privatised: IHC informed

NEW YORK: The Roosevelt Hotel located in New York owned by Pakistan International Airlines (PIA) is not being privatized and will remain the national carrier’s property.
A federal law officer on Tuesday informed the Islamabad High Court (IHC) Justice Amir Farooq. A petition filed against the government’s plans to privatize the PIA’s asset in New York was being heard today.
The deputy attorney general stated before the judge that Roosevelt Hotel is not being privatized. The chief justice asked him whether he wanted to submit a written response to the petition, to which he replied that he needed some time to seek instructions in this regard from the government.

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Moreover, the high court adjourned the case until 15th July. The Cabinet Committee on Privatisation (CCoP) last week decided to privatize New York’s Roosevelt Hotel and to run it through a joint venture instead.
A meeting of the committee was chaired by Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Sheikh to review the one-point agenda of the privatization of Roosevelt Hotel, owned by PIA Investment Limited in the Manhattan borough of New York City.
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