Pakistan plans to finalize Roosevelt Hotel privatization structure at next cabinet committee meeting

Migrants wait for a ride, with their belongings, in front of the Roosevelt Hotel in New York on February 25, 2025. (AP/File)
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Updated 28 June 2025
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Pakistan plans to finalize Roosevelt Hotel privatization structure at next cabinet committee meeting

  • Privatization Commission denies reports claiming a $100 million base price has been set for the hotel
  • It points out the deal’s value will depend on the government-approved transaction structure, final terms

KARACHI: Pakistan is expected to finalize the transaction structure for the privatization of the Roosevelt Hotel in New York at the next meeting of the Cabinet Committee on Privatization, the government said in a statement on Saturday.

Located in Midtown Manhattan, the hotel is owned by Pakistan International Airlines Investment Limited (PIAIL) and occupies a full city block on Madison Avenue and 45th Street. It has also remained one of Pakistan’s most high-profile yet politically sensitive overseas assets.

“The base price and expected proceeds from the privatization of the Roosevelt Hotel will depend on the transaction structure and final terms approved by the government,” the Privatization Commission said in an official handout. “The transaction structure is expected to be finalized at the next meeting of the Cabinet Committee on Privatization.”

The statement informed no base price had yet been set for the property, rebutting some local media reports that claimed the government had fixed a $100 million floor.

It also pointed out such a value could only be determined at the time of bidding, adding that the deal’s potential value would depend on the transaction structure and final terms approved by the cabinet committee.

Over the past two decades, successive Pakistani governments have floated plans to sell, lease or redevelop the property, but no proposal has advanced beyond early-stage planning.

Earlier this month, Muhammad Ali, the prime minister’s adviser on privatization, told Arab News that the government had completed the hotel’s baseline valuation and appointed US-based consultancy JLL to conduct market sounding.

“We just need to get approval from the cabinet committee on the structure, and we’ll move ahead,” he said.


Top Pakistani clerics warn government against sending troops to Gaza to disarm Hamas

Updated 23 December 2025
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Top Pakistani clerics warn government against sending troops to Gaza to disarm Hamas

  • Pakistani clerics raise alarm over reports of pressure on Muslim nations to provide troops for Gaza stabilization force under Trump peace plan
  • Islamabad has previously said that it is willing to join the international stabilization force but ‘not ready’ to play any role in disarming Hamas

ISLAMABAD: A group of Pakistan’s top religious and political leaders on Monday warned the government against sending Pakistani troops to Gaza to disarm Palestinian group Hamas, amid discussions over a proposed International Stabilization Force (ISF) for the Palestinian territory.

The representative gathering, chaired by prominent scholar Mufti Taqi Usmani, brought together leaders from Deobandi, Barelvi, Ahl-e-Hadees and Shia schools of thought, alongside leaders of the country’s main religio-political parties, Jamiat Ulema-e-Islam-Fazl (JUI-F) and Jamaat-e-Islami (JI).

The international stabilization force, which is to be composed of troops from Muslim countries, is the cornerstone of President Donald Trump’s peace plan for Gaza announced in Sept. Islamabad has previously said it is willing to join the ISF but “not ready” to play any role in disarming Hamas. Hamas’s Gaza chief Khalil Al-Hayya said this month the group had a “legitimate right” to hold weapons, while Israel has repeatedly insisted that Hamas be disarmed.

In a joint statement issued after the meeting in the port city of Karachi on Monday, Pakistani clerics raised alarm over reports that international pressure is mounting on Muslim-majority nations to provide troops for the transitional security force in Gaza, following Israel-Hamas ceasefire.

“In such circumstances, demands are being made to Muslim countries that they send their forces there to disarm Hamas,” the statement said. “Several Muslim governments have already refused this, and pressure is being increased on Pakistan.”

Last month, the United Nations Security Council approved Washington’s plan, which called for a yet-to-be-established Board of Peace as a transitional authority that Trump would head, and the stabilization force, which would be empowered to oversee borders, provide security and demilitarize the territory.

The gathering of Pakistani clerics urged Islamabad to resist any diplomatic overtures from Washington regarding troop deployment.

“This gathering, with full emphasis, demands the Government of Pakistan refrain from sending its forces to disarm Hamas and that it should not yield to any pressure in this regard,” the statement said.

The assembly expressed complete support for the liberation of Palestine and described the effort as a “duty of every Muslim.”

It said that Pakistan’s armed forces are “imbued with the spirit of jihad” and that the “notion of placing them against any sacred struggle for the liberation of Baitul Muqaddas or Palestine is impossible for the nation to accept.”

The religious leaders characterized the proposal as a “conspiracy” from which the government must “protect the country.”

Pakistani foreign office spokesperson Tahir Andrabi and the prime minister’s spokesperson for foreign media, Mosharraf Zaidi, did not respond to Arab News requests for comment on the statement.

Washington reportedly views Pakistan as a prime candidate for the ISF, given its experience in high-intensity border conflicts and internal counter-insurgency operations.

Last week, Pakistan’s foreign office said that Islamabad had not taken any decision on joining the proposed stabilization force for Gaza and had received no formal request from the US or any other country in this regard.

“I am not aware of any specific request made to Pakistan. We will inform you about any development if it takes place,” Andrabi told reporters.

He also sought to distance the government from rumors of a pending visit by Pakistan’s defense forces chief, Field Marshal Asim Munir, to the US to meet President Trump.