Govt to offer 51% stakes in PIA, Roosevelt to Qatar - News Summed Up

Govt to offer 51% stakes in PIA, Roosevelt to Qatar


The government on Monday shelved a plan to sell two LNG-fired power plants to Qatar and instead decided to offer 51% stakes in the Roosevelt Hotel, New York, and the Pakistan International Airlines (PIA). The sources said that the meeting discussed the possibility of selling the two LNG power plants to Qatar. The National Power Parks Management Company Limited (NPPMCL) owns 1,230 megawatts (MW) Haveli Bahadur Shah and 1,223MW Balloki power plants. These power plants were set up with government funding instead of the 70:30 debt-to-equity ratio. It was also decided on Monday that Pakistan should offer 51% stakes in The Roosevelt Hotel, New York, and the PIA along with the management control to Qatar.


Source: The Express Tribune August 17, 2022 01:27 UTC



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