Pakistan and the United States have signed a memorandum of understanding (MoU) to jointly redevelop the landmark Roosevelt Hotel in New York, marking a new phase in bilateral economic cooperation, according to officials. Read More: Govt halts HBFC privatisation, reopens Roosevelt Hotel deal Pakistan’s Ministry of Finance said in a post on X that both governments […]
Roosevelt hotel
Pakistan, US sign pact to redevelop New York’s Roosevelt Hotel
Pakistan has signed an agreement with the United States to jointly redevelop New York’s Roosevelt Hotel, according to four official documents reviewed by Reuters and two sources, in a deal between the two governments that will allow Islamabad to unlock the value of one its most prized overseas investments. The two countries signed a memorandum […]
Govt halts HBFC privatisation, reopens Roosevelt Hotel deal
ISLAMABAD: The government has halted the ongoing privatisation of House Building Finance Company Limited (HBFC) and reopened the process for the Roosevelt Hotel in New York, following a meeting of the Privatisation Commission Board chaired by the Adviser on Privatisation. Read More: HBFCL privatisation may start afresh Officials said the board reviewed key state-owned assets and decided […]
IMF Cannot Impose Conditions Against Pakistan’s Interests, Says Aurangzeb
WASHINGTON — Finance Minister Muhammad Aurangzeb said on Saturday that the International Monetary Fund (IMF) cannot impose any conditions that go against Pakistan’s national interests. Speaking at the Pakistan Embassy in Washington, Aurangzeb said that all IMF-backed reforms were consistent with Pakistan’s economic priorities and had helped stabilise the national economy. “Please name any IMF-suggested […]
Pakistan seeks billion-dollar deal for iconic Roosevelt hotel
ISLAMABAD — Pakistan’s government is seeking a $1 billion valuation for the Roosevelt Hotel in New York City, aiming to offer a minority stake in a joint redevelopment venture while retaining overall ownership. This forms part of a broader $7 billion IMF-backed privatization drive. The Roosevelt Hotel, owned by Pakistan International Airlines (PIA) through its […]
Privatisation commission proposes sale structure for Roosevelt hotel and PIA
The Privatisation Commission has proposed a single-transaction sale structure for the Roosevelt Hotel in New York City. This recommendation came from Privatisation Secretary Usman Akhtar Bajwa during a recent Senate Standing Committee meeting. Bajwa also announced the formation of a new committee. This committee will focus on attracting investors for the privatisation of Pakistan International […]
Zulfi Bukhari wins first round of defamation case against Reham Khan
LONDON: Prime Minister Imran Khan’s former special assistant for Overseas Pakistanis Zulfi Bukhari has won the first round of the defamation case against Reham Khan, the broadcaster and former wife of PM Imran Khan. At a trial of preliminary issues before the London High Court, Justice Karen Steyn determined the meaning of the eight publications […]