Govt dismisses talk of $100m Roosevelt Hotel floor price

June 28, 2025 (MLN): The Privatisation Commission rejected reports that the government has set a $100 million base price for the sale of Roosevelt Hotel, calling the claims premature and misleading.

In a statement issued yesterday, the commission clarified that no floor price has been determined.

“A base price can only be established at the time of bidding, based on the approved transaction structure and final deal terms,” it said.

The clarification came after certain media outlets reported that Pakistan had fixed a base price for the long-delayed asset sale, attributing the figure to Adviser to the Prime Minister on Privatisation, Muhammad Ali.

The commission said Ali’s remarks were misrepresented, noting he merely referred to an estimated initial partial payment by the successful bidder upon signing, expected during the current fiscal year.

The transaction framework, including pricing and timelines for proceeds, will be finalized in the upcoming Cabinet Committee on Privatisation (CCOP) meeting.

The Roosevelt Hotel, owned by Pakistan International Airlines through its subsidiary, has been a recurring feature on Pakistan’s privatisation list as authorities look to raise funds and streamline state assets.

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