Islamabad:
The Minister of Defense, Khawaja Asif, informed the National Assembly on Monday that the government plans to run the Roosevelt hotel in New York through a joint venture to ensure a long -term economic advantage.
Answering a question during questions, the Minister said that the Roosevelt hotel is a privileged property located in the heart of New York. “It is a 19-storey building with access on two sides, and it holds a central and strategic location,” he noted, adding that such a property is unequaled in the city.
He also declared that if the sale of the hotel could provide short -term financial relief or aid for the reimbursement of the debt, the government aims for a joint venture that would generate lasting yields over time.
“This approach will help Pakistan to benefit from property without losing property,” he said, reaffirming the government’s determination to make prudent decisions concerning national assets abroad.
