NAB orders inquiry into PIA's Roosevelt Hotel closure

ISLAMABAD: Chairman National Accountability Bureau (NAB) has taken notice of news circulating about the closure of Pakistan International Airlines (PIA) owned Roosevelt Hotel in New York, ARY News reported on Tuesday.

News about the closure of the PIA’s iconic hotel from October 31 is circulating in certain quarters.

Chairman NAB Justice retired Javed Iqbal has directed DG NAB Rawalpindi to investigate the matter. According to the anti-graft body spokesperson, the graft buster body chief has directed to unearth the causes of shutting down the hotel.

On Monday, Minister for Aviation Ghulam Sarwar Khan had refuted reports circulating in certain quarters regarding the sale of PIA’s Roosevelt Hotel in New York.

“There is no agenda or program under consideration to selling the iconic Roosevelt Hotel New York,” said Minister of Aviation Mr. Ghulam Sarwar Khan had said while expressing his views in ARY News’ programme Power Play.

Read more: PIA’s iconic Roosevelt Hotel not to be sold: minister

He had termed the news circulating in certain quarters as “speculation” and nothing more than “political point-scoring.”

The Roosevelt Hotel, established in 1924, is among the historic hotels in the United States and is situated in the luxurious downtown area of Manhattan. US President Donald Trump had also made an offer to buy the hotel’s building.

The PIA acquired the hotel on lease in 1969 and in 2005 acquired its ownership rights. Currently, the hotel is worth over US$1 billion.