ISLAMABAD ( WNAM REPORT ): The Privatisation Commission of Pakistan on Saturday clarified that no base price has yet been determined for the proposed sale of the iconic Roosevelt Hotel in New York, refuting recent media reports claiming a $100 million valuation.
“The Privatisation Commission has noticed a misleading news report appearing on 27th June 2025 in certain news media outlets asserting that Pakistan has set $100 million as base price for the sale of Roosevelt Hotel.
“It is clarified that no base price has yet been determined for Roosevelt Hotel, New York’s privatisation, which can only be set at the time of bidding,” read the statement.
The commission highlighted that the report misquotes Adviser to the Prime Minister on Privatisation, Muhammad Ali, who had referred to an estimated initial partial payment to be made by the successful party on signing the agreement, expected during the current fiscal year.
“The base price and timing for realisation of total proceeds from the privatisation of Roosevelt Hotel will be based on transaction structure and final terms of the agreement approved by the government,” it said, with the finalisation of the transaction structure expected to be taken up in the next CCOP meeting.
