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Divestment of Roosevelt Hotel ruled out

Updated December 12, 2017

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ISLAMABAD: Prime Minister Shahid Khaqan Abbasi chaired a meeting regarding the affairs related to the Roosevelt Hotel in New York at the Prime Minister’s Office on Monday.

Aviation Division Secretary briefed the meeting about the financial condition of the hotel and the reducing scale of return on the investment. Prime Minister Abbasi said the government considered the Roosevelt Hotel an important historical building owned by the state and that its divestment was not an option.

He said that apart from being a valuable property, the hotel carried cultural significance for Pakistan.

The prime minister directed the aviation division to submit a business plan to improve the income stream of the hotel by either alternate or mixed use development.

The meeting was attended by the prime minister’s advi­ser on aviation, Sardar Meh­tab Ahmed Khan, and other senior officials.

Published in Dawn, December 12th, 2017