Privatization Commission extends deadline for Financial Advisor appointment in Roosevelt Hotel Case

MG News | September 04, 2025 at 02:04 PM GMT+05:00

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September 04, 2025 (MLN): The Privatization Commission has extended the deadline for submission of applications for the appointment of a financial advisor in the privatization process of PIA’s Roosevelt Hotel in the United States until September 16, 2025.

Earlier, the previously appointed financial advisory firm had excused itself from handling the transaction, prompting the Commission to seek fresh expressions of interest from potential advisors.

The Roosevelt Hotel, located in New York, is one of the most valuable international assets of Pakistan International Airlines (PIA).

The government has long considered various options for the property, including joint ventures, lease arrangements, or outright privatization, as part of broader reforms in the national carrier.

The decision to proceed with a new financial advisor is aimed at ensuring transparency and attracting competitive bids from credible investors.

It is believed that appointing a strong advisor will help assess the best possible mode of privatization while safeguarding Pakistan’s interests.

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