Islamabad:
Defense Minister Khawaja Asif, on Monday to the National Assembly that the Government is considering managing the Roosevelt hotel in New York through a joint company to guarantee a long -term economic benefit.
In response to a question during the time of the question, the minister said that the Roosevelt hotel is a main property located in the heart of New York City. “It is a 19 -story building with access from two sides, and has a central and strategic location,” he said, added that such property has no comparison in the city.
In addition, he said that while selling the hotel, financial relief could provide in the short term or aid in debt reimbursement, the government points to a joint business that generates sustainable yields over time.
“This approach will help Pakistan benefit from property without losing property,” he said, reaffirming the government’s resolution to make prudent decisions regarding national assets abroad.
