Posted Jun 11, 2025, 1:09 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,622
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If they could just get on with it, that would be great....
https://thetruthinternational.com/econom...f-pia-and-roosevelt-hotel-in-new-budget/
Government Accelerates Privatization of PIA and Roosevelt Hotel in New Budget
ByRomana Afsheen
June 10, 2025
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The federal government has announced plans to fast-track the privatization of Pakistan International Airlines (PIA) and New York’s Roosevelt Hotel as part of its economic reform agenda for the upcoming fiscal year.
Finance Minister Muhammad Aurangzeb, while presenting the federal budget, revealed that completing these high-profile privatizations remains a top priority. “We are committed to concluding the PIA and Roosevelt Hotel transactions this fiscal year,” Aurangzeb stated during his budget speech.
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The privatization push comes as Pakistan seeks to shore up foreign reserves and reduce losses from state-owned enterprises. The Roosevelt Hotel, a prime Manhattan property owned by PIA, has been a longstanding asset on the privatization list, while the national carrier’s sale is expected to attract both domestic and international investors.
Experts suggest these measures could help stabilize Pakistan’s economy, though some caution that the transition must ensure fair valuation and transparent processes.
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