Posted Aug 22, 2024, 12:39 AM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,713
|
|
https://pid.gov.pk/site/press_detail/26210
PR No. 205
TRANSPARENCY TO BE ENSURED IN PRIVATIZATION: ABDUL ALEEM KHAN
222nd MEETING OF PRIVATIZATION COMMISSION BOARD HEADED BY FED. MINISTER
PIA ROOSEVELT HOTEL
August 21, 2024
Quote:
In the 222nd meeting of Privatization Commission Board chaired by Federal Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan in which important decisions regarding the ongoing process of privatization of various Government Institutions and financial & technical aspects were approved. In the Board meeting, decisions on appointment of Financial Advisors for PIA, DISCOs, Roosevelt Hotel in New York and other decisions were unanimously approved by PCB, as well.
The PC Board was also presented with the Transaction Structure Report on the Roosevelt Hotel Corporation (RHC), New York by Jones Lang LaSalle Americas, Inc (JLL), the Financial Advisor for the transaction. The Board recommended “Joint Venture” as the best suited transaction structure for the Roosevelt Hotel in line with the Transaction Structure Report submitted by JLL.
As part of its deliverables the FAC was required to submit a Transaction Structure Report suggesting alternate transaction structure options for the mixed use development of the Roosevelt Hotel. The report considered and evaluated the options of outright sale, joint venture development and long term lease.
JLL based on the analysis presented in the Transaction Structure Report and its experience of New York Real Estate Market recommended “Joint Venture” as the most suitable Transaction Structure for maximizing the expected proceeds and value to the Government of Pakistan. The Federal Minister appreciated the efforts of JLL on compilation of a detailed transaction structure report and expressed the hope that the Government will be able to get the best deal for the Roosevelt Hotel Transaction.
|
https://propakistani.pk/2024/08/21/pia-i...nal-exchequer-due-to-aircraft-grounding/
Quote:
Aug 21, 2024
According to the Ministry of Privatization, authorities aim to sell ten entities including power distribution companies within a year. It is also seeking initial bids for PIA’s Roosevelt Hotel in New York.
|
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
|
Threaded Mode