In a significant advancement of the government’s privatization agenda, the Cabinet Committee on Privatization (CCOP) Tuesday approved the transaction structure for the Roosevelt Hotel, New York, as proposed by the Privatization Commission Board.
Out of the three options evaluated by the Financial Advisor (i) outright sale, (ii) joint venture with multiple options, and (iii) long-term lease, the Joint Venture model with multiple options has been approved.
This option is aimed at maximizing long-term value for the country, while ensuring flexibility, multiple exit opportunities, and minimizing future fiscal exposure.
Earlier today, the Privatization Commission Board approved the prequalification of four interested parties for the divestment of Pakistan International Airlines Corporation Limited (PIACL).