The government has decided to revive the plan for leasing out the site of the Roosevelt Hotel in New York to set up a joint venture project for prospective mixed-use development and agreed to explore the option of reopening the hotel following protest from the employees union. The Roosevelt Hotel is owned by the Pakistan International Airlines (PAI) through a PIA-Investment Limited. Also read: Roosevelt Hotel closed for goodThe Aviation Division further shared two serious issues facing PIA-IL management – one related to illegal demand from the union employees and the other was the issue of land marking of Roosevelt Hotel Corporation (RHC). On July 16, the ECC directed the Aviation Division to submit details of the cost of reopening of the hotel. The ECC considered the summary submitted by Aviation Division on ‘Challenges to Roosevelt Hotel, New York, Property of PIA-Investment Limited (PIA-IL) and Way Forward’ and approved the proposals of exploring option to reopen the hotel.

Source: The Express Tribune September 14, 2022 05:56 UTC