Islamabad:
Defense Minister Khawaja Asif informed Monday Assembly Monday that the government is considering running the Roosevelt Hotel in New York through a joint venture to ensure long -term financial advantage.
In response to a question during the question, the minister said the Roosevelt Hotel is a first -class property located in the heart of New York City. “It is a 19 -storey building with access from two sides and it has a central and strategic location,” he noted, adding that such a property is unmatched in the city.
He further stated that while he was selling the hotel may provide short -term financial relief or help repaying debt, the government aims for a joint venture that would create sustainable returns over time.
“This approach will help Pakistan take advantage of the property without losing ownership,” he said, confirming the government’s decision to make cautious decisions about national assets abroad.
