Pakistan, June 28 -- ISLAMABAD - The Privatisation Commission has strongly denied media reports suggesting that the government has set a $100 million price for the sale of the Roosevelt Hotel in New York. In a statement on Saturday, the Commission called the reports misleading and confirmed that no sale price has been fixed yet.

It clarified that the hotel's final valuation will only be determined during the bidding process, which will follow government approval. The Commission also addressed misattributed remarks to Muhammad Ali, Advisor to the Prime Minister on Privatisation, stating that he referred only to a partial upfront payment-not the full value.

Earlier this year, the government asked the Commission to move ahead with the hote...