Pakistan, April 12 -- The Privatisation Commission has proposed a single-transaction sale structure for the Roosevelt Hotel in New York City. This recommendation came from Privatisation Secretary Usman Akhtar Bajwa during a recent Senate Standing Committee meeting. Bajwa also announced the formation of a new committee. This committee will focus on attracting investors for the privatisation of Pakistan International Airlines (PIA).

To enhance the bidding process for PIA, the new committee recommends stricter pre-qualification criteria. They aim to filter out non-operational bidders, including Blue World City. Last year, Blue World City submitted a bid, but it was the only one and fell below the asking price of over $300 million. Therefore...