The Privatization Commission has extended the deadline for submitting applications for the appointment of a financial advisor in the privatization process of Pakistan International Airlines (PIA)’s Roosevelt Hotel in New York to September 16, 2025.
The extension follows the previous financial advisory firm’s decision to excuse itself from handling the transaction, prompting the Commission to seek fresh expressions of interest from potential advisors.
The Roosevelt Hotel, one of PIA’s most valuable international assets, has long been a subject of various privatization options, including joint ventures, lease arrangements, or outright sale, as part of broader reforms for the national carrier.
The decision to appoint a new financial advisor aims to ensure transparency and encourage competitive bids from credible investors. The appointment is expected to help identify the most suitable privatization method while safeguarding Pakistan’s interests.
