{"id":4473,"date":"2025-06-29T09:21:52","date_gmt":"2025-06-29T04:21:52","guid":{"rendered":"https:\/\/youdigital.pk\/en\/?p=4473"},"modified":"2025-06-29T12:41:46","modified_gmt":"2025-06-29T07:41:46","slug":"govt-denies-100-million-valuation-for-roosevelt-hotel","status":"publish","type":"post","link":"https:\/\/youdigital.pk\/en\/2025\/06\/29\/govt-denies-100-million-valuation-for-roosevelt-hotel","title":{"rendered":"Govt Denies $100 Million Valuation for Roosevelt Hotel"},"content":{"rendered":"<p data-start=\"87\" data-end=\"256\"><strong>ISLAMABAD: <span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The Privatisation Commission of Pakistan has refuted recent media reports claiming a $100 million base price for the Roosevelt Hotel in New York.<\/span> <\/strong><\/p>\n<p data-start=\"87\" data-end=\"256\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The commission clarified that no base price has been determined, emphasizing that such a valuation can only be set during the bidding process.<\/span><\/p>\n<p data-start=\"87\" data-end=\"256\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The final transaction structure and terms will be decided by the Cabinet Committee on Privatisation (CCoP) in an upcoming meeting.<\/span><\/p>\n<p data-start=\"258\" data-end=\"288\"><strong data-start=\"258\" data-end=\"288\">Clarification on Valuation<\/strong><\/p>\n<p data-start=\"290\" data-end=\"448\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The Privatisation Commission issued a statement on June 28, 2025, addressing the misleading news reports.<\/span> <span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">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.<\/span><\/p>\n<p data-start=\"290\" data-end=\"448\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The commission reiterated that the base price and total proceeds will depend on the transaction structure and final terms approved by the government.<\/span><\/p>\n<p data-start=\"450\" data-end=\"492\"><strong data-start=\"450\" data-end=\"492\">Transaction Structure Pending Approval<\/strong><\/p>\n<p data-start=\"494\" data-end=\"652\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">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.<\/span><\/p>\n<p data-start=\"494\" data-end=\"652\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">The finalization of the transaction structure is pending approval from the Cabinet Committee on Privatisation, with discussions expected in the coming weeks.<\/span><\/p>\n<p data-start=\"494\" data-end=\"652\"><span class=\"relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out\">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.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &hellip;<\/p>\n","protected":false},"author":6,"featured_media":4474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2165,2166,2167],"class_list":["post-4473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news","tag-privatisation","tag-roosevelt","tag-valuation"],"_links":{"self":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts\/4473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/comments?post=4473"}],"version-history":[{"count":1,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts\/4473\/revisions"}],"predecessor-version":[{"id":4475,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts\/4473\/revisions\/4475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/media\/4474"}],"wp:attachment":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/media?parent=4473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/categories?post=4473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/tags?post=4473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}