[NYguy]

https://tribune.com.pk/story/2376602...oosevelt-hotel

Govt crafts plan for use of Roosevelt Hotel
Plan for leasing out the site, reopening of the hotel being explored


Zafar Bhutta
September 14, 2022

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.

According to sources, the Cabinet Committee on Privatisation had approved the leasing of the Roosevelt Hotel, as the best-suited mode of privatisation and directed the Privatisation Commission (PC) on July 2, 2020 to initiate the process for appointing a financial adviser.

…. after out-of-court settlement with the TCC, the PC was asked to reinitiate the process after the Office of the Attorney General for Pakistan advised the Aviation Division to go ahead with the appointment of the financial adviser.

https://www.brecorder.com/news/amp/40197630

Roosevelt Hotel: team likely to be sent to US for talks with union

Mushtaq Ghumman
15 Sep, 2022

The government is likely to dispatch a team comprising of officials from the Aviation Division, the Finance Division and the Law Division to negotiate with the union of M/s Roosevelt Hotel, New York to protect it from land marking and other emergent related issues, well-informed sources told Business Recorder.

The issue of M/s Roosevelt Hotel, sources said, was highlighted during the Federal Cabinet meeting held on September 13, 2022.

Secretary Aviation noted that the tentative cost of re-opening was $ 329 million, as indicated by M/s Nehmer and M/s Interstate, however, the exact cost of re-opening would be available once the bids were called.

Aviation Division also proposed that representatives of Finance and Law & Justice Divisions not below the rank of BPS-20 may also be added in the team of PIA-IL management going to New York, USA for negotiations with the Union, to protect RHC from land marking and other emergent RHC related issues.