Federal government, on Tuesday, reaffirmed Islamabad High Court (IHC), against the privatization of Roosevelt Hotel in New York, USA.
IHC Chief Justice Amir Farooq heard the petition filed against the possible privatization of Roosevelt Hotel in New York USA which is owned by Pakistan International Airlines (PIA).
During the hearing, the court directed the deputy attorney general to inform the court regarding government’s official stance on the issue of privatization of the PIA owned property, to which the attorney general requested for some time.
The Deputy Attorney General cited that he required guidelines and specific orders from the relevant authorities and officials to submit a written reply on the matter.
The case has been adjourned till July 15.
It is pertinent to know that rumors have been circulating regarding the privatization of the New York property as earlier a summary was prepared by the Aviation Division in this regard.
The development comes as PIA has been facing severe economic crisis and a narrative was being developed to sell off the Roosevelt Hotel to compensate for the economic crisis faced by the national carrier.