Trump interested in buying PIA-owned Roosevelt Hotel in New York, NA body told

United States (US) President Donald Trump had expressed interest in acquiring the Pakistan International Airlines’ (PIA) Roosevelt Hotel in ny , it had been revealed on Wednesday during a gathering of the National Assembly’s committee on Privatisation.

The 19-storey hotel with 1,025 rooms plus allied facilities in ny City, with a number of the suites being among the foremost luxurious available in Manhattan, is taken into account a valuable property that also carries cultural significance for Pakistan.

Tandingg on the corner of 45th Street and Madison Avenue, within the heart of Midtown Manhattan, the hotel bears a quintessentially American name in honour of former us (US) President Roosevelt , who had previously been the governor of latest York State.

According to The News, the director of PIA Investments Limited informed the lawmakers that Trump had expressed interest in acquiring the long-lasting hotel within the past and was “still keen on purchasing it”.

“The government has tried 10 times to sell the hotel,” he added.

Briefing the members, Privatisation Minister Muhammad Mian Soomro said the govt wasn’t selling the property but rather getting to lease it out or add a venture with the private sector.

Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif said that the parliament should be taken into confidence over the privatisation matter.

“We aren’t against privatisation but we must await a far better time to urge an honest price,” Asif added.

“Don’t make a choice now and instead wait. Right now, neither PIA would be sold nor the hotel.”

Earlier this month, opposition parties had slammed the ruling party when it had been reported that the govt is considering selling the Roosevelt Hotel.

The plan was shelved thanks to stiff opposition and therefore the coronavirus pandemic.

In a meeting on July 2, the cupboard Committee on Privatisation (CCoP) decided that the Roosevelt Hotel would be run under a venture with a 3rd party.

The said hotel was acquired by PIA Investment Limited on lease during the year 1979 with an choice to purchase the property. PIA had purchased the hotel against $36.5 million against a requirement of $59.5 million by contesting a lawsuit against the owner in 1999. The Interstate Hotel and Resort is managing the Roosevelt Hotel since 1997.

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