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

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

0:00

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.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,098.19 607.60M	-0.87% -1432.62
ALLSHR	99,276.25 1,397.26M	-0.80% -801.63
KSE30	50,184.56 221.88M	-0.89% -450.56
KMI30	238,333.52 129.55M	-1.13% -2718.46
KMIALLSHR	65,792.54 685.73M	-0.99% -655.65
BKTi	45,653.52 111.72M	-1.00% -461.31
OGTi	32,313.25 10.70M	-1.57% -516.41

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	114,520.00	123,270.00 113,150.00	-7100.00 -5.84%
BRENT CRUDE	62.09	65.36 62.00	-3.13 -4.80%
RICHARDS BAY COAL MONTHLY	81.00	81.00 81.00	-1.60 -1.94%
ROTTERDAM COAL MONTHLY	90.50	0.00 0.00	0.40 0.44%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	58.24	61.67 58.22	-3.27 -5.32%
SUGAR #11 WORLD	16.10	16.35 15.97	-0.16 -0.98%