AVN 68.60 Increased By ▲ 0.05 (0.07%)
BOP 8.88 Decreased By ▼ -0.07 (-0.78%)
CHCC 132.40 Increased By ▲ 0.40 (0.3%)
DCL 9.40 Increased By ▲ 0.10 (1.08%)
DGKC 105.13 Increased By ▲ 0.84 (0.81%)
EFERT 61.20 Decreased By ▼ -0.06 (-0.1%)
EPCL 44.75 Decreased By ▼ -0.04 (-0.09%)
FCCL 21.49 Increased By ▲ 0.14 (0.66%)
FFL 14.88 Decreased By ▼ -0.04 (-0.27%)
HASCOL 14.55 Increased By ▲ 0.03 (0.21%)
HBL 130.10 Increased By ▲ 0.10 (0.08%)
HUBC 79.60 Increased By ▲ 0.20 (0.25%)
HUMNL 7.04 Increased By ▲ 0.05 (0.72%)
JSCL 24.09 Increased By ▲ 0.59 (2.51%)
KAPCO 28.80 Decreased By ▼ -0.01 (-0.03%)
KEL 3.81 Decreased By ▼ -0.04 (-1.04%)
LOTCHEM 12.85 Decreased By ▼ -0.04 (-0.31%)
MLCF 39.40 Increased By ▲ 0.18 (0.46%)
OGDC 99.50 Increased By ▲ 0.17 (0.17%)
PAEL 33.06 Increased By ▲ 0.24 (0.73%)
PIBTL 12.41 Increased By ▲ 0.11 (0.89%)
PIOC 91.50 Increased By ▲ 0.15 (0.16%)
POWER 9.67 Increased By ▲ 0.05 (0.52%)
PPL 91.32 Increased By ▲ 0.03 (0.03%)
PSO 194.00 Increased By ▲ 0.10 (0.05%)
SNGP 42.42 Increased By ▲ 0.21 (0.5%)
STPL 14.10 Increased By ▲ 0.68 (5.07%)
TRG 60.25 Increased By ▲ 3.34 (5.87%)
UNITY 25.31 No Change ▼ 0.00 (0%)
WTL 1.10 Increased By ▲ 0.03 (2.8%)
BR100 4,231 Decreased By ▼ -21.54 (-0.51%)
BR30 21,389 Decreased By ▼ -14.14 (-0.07%)
KSE100 40,807 Decreased By ▼ -223.94 (-0.55%)
KSE30 17,160 Decreased By ▼ -134.97 (-0.78%)

ISLAMABAD: The Privatisation Commission (PC) has initiated the hiring process of the Financial Advisory Consortium (FAC) for Roosevelt Hotel, New York, USA, owned by the PIA. In compliance with the Cabinet's decision dated 7th July, 2020, the Privatisation Commission is developing the Terms of Reference (ToRs) in consultation with the concerned entity i.e. the PIA and administrative ministry (Aviation Division) for the Financial Advisory Consortium to advise the government to undertake the envisaged leasing of Roosevelt site for prospective mixed use development, through the best suited mode of privatisation, as delineated in the Privatisation Commission Ordinance, 2000, and rules /regulations made thereunder.

According to the law/rules/regulations of the PC as well as the PPRA, the Privatisation Commission will hire the services of the FAC, which will recommend the best suited transaction structure under the modes of privatisation provided in the PC Ordinance/Rules and in consultation with the relevant stakeholders. The proposed transaction structure will be presented before the PC Board and the Cabinet Committee on Privatization (CCoP) for recommendations and for approval/ratification by the federal cabinet. In accordance with the transaction structure approved by the federal cabinet, the Privatisation Commission will invite the Expression of Interest (EoIs) from potential investors (national and international), which will be submitted to the PC Board, the CCoP and the federal cabinet for approval.

Copyright Business Recorder, 2020