ISLAMABAD: The Privatisation Commission of Pakistan has refuted recent media reports claiming a $100 million base price for the Roosevelt Hotel in New York.
The commission clarified that no base price has been determined, emphasizing that such a valuation can only be set during the bidding process.
The final transaction structure and terms will be decided by the Cabinet Committee on Privatisation (CCoP) in an upcoming meeting.
Clarification on Valuation
The Privatisation Commission issued a statement on June 28, 2025, addressing the misleading news reports. The commission highlighted that the Adviser to the Prime Minister on Privatisation, Muhammad Ali, had referred to an estimated initial partial payment expected during the current fiscal year, not a base price.
The commission reiterated that the base price and total proceeds will depend on the transaction structure and final terms approved by the government.
Transaction Structure Pending Approval
In April 2025, the Privatisation Commission approved the transaction structure for the Roosevelt Hotel, focusing on either an outright sale or a joint venture, and discarded the leasing option.
The finalization of the transaction structure is pending approval from the Cabinet Committee on Privatisation, with discussions expected in the coming weeks.
The Roosevelt Hotel, owned by Pakistan International Airlines Investment Limited (PIAIL), has been a subject of privatization discussions for several years, with various proposals under consideration.
