The Privatisation Commission has extended the deadline for submission of applications from financial advisors for the privatisation of Pakistan International Airlines’ (PIA) Roosevelt Hotel in New York. The new deadline has been set for September 16, 2025.
The extension follows the exit of the previously appointed financial advisor, which prompted the commission to reopen the process in order to maintain transparency and competition in the transaction.
According to officials, the financial advisor will be tasked with evaluating the Roosevelt Hotel’s financial standing, recommending viable transaction structures, and guiding the government through the privatisation process. The aim is to ensure maximum value for the state while adhering to international best practices.
Located in Manhattan, the Roosevelt Hotel is one of PIA’s most valuable overseas assets. The property has long been at the center of debate over its future, with the government seeking to privatise it to ease the national carrier’s financial burden and generate much-needed foreign exchange.
READ MORE: Privatization Commission Proposes Joint Venture for Roosevelt Hotel
Privatisation Commission representatives noted that extending the deadline would allow more firms to participate, thereby enhancing transparency and strengthening investor confidence in Pakistan’s privatisation programme.
The Roosevelt Hotel’s privatisation is part of the government’s broader strategy to divest loss-making state-owned enterprises, restructure PIA’s liabilities, and boost foreign investment.
