ISLAMABAD: In a significant development, the Privatisation Commission Board, led by Federal Minister Abdul Aleem Khan, has approved the appointment of financial advisors to facilitate the privatization of Pakistan International Airlines (PIA), several distribution companies (Discos), and the iconic Roosevelt Hotel in New York.
During the meeting, the Board reviewed the progress of the privatization process and approved crucial financial and technical steps. A key decision involved selecting six qualified financial advisors to guide the privatization efforts.
These advisors include Citigroup Global Markets Ltd, UK JP Morgan Alvarez & Marsal, UAE, EY Consulting LLC Dubai, PWC-AF Ferguson & Co, and BDO Ebrahim & Co, Pakistan
The Board also discussed a report on the Roosevelt Hotel, prepared by Jones Lang LaSalle Americas, Inc. (JLL), and recommended a joint venture approach for the hotel’s future development.
Earlier, JLL was appointed as the primary financial advisor for the Roosevelt Hotel project in November 2023 and signed a contract in February 2024. Their report outlined various options for the hotel’s future development.
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