Bidders interested, but wary of EU ban on PIA

Pakistan could expect much higher foreign exchange proceeds from the sale of the Roosevelt Hotel — an upscale property in New York’s Manhattan district — with an improved mix-use sell-off transaction proposed by US advisers. But pre-qualified bidders for Pakistan International Airlines (PIA) have expressed concerns over the European Union’s ban on Pakistani airlines, which could affect the bid price for the national flag carrier that is currently up for sale. This was the crux of a news briefing on Wednesday, led by Privatisation Minister Abdul Aleem Khan and federal secretaries of the privatisation division and privatisation commission, Jawad Paul and Usman Bajwa, respectively.