At a press conference held here on Saturday, he claimed that a news outlet was spreading false information concerning the sale of the Roosevelt Hotel.
He proclaimed, “No such scheme is even under discussion.
The minister also denied rumours that the national flag of Pakistan had been taken down from the Roosevelt Hotel and made it clear that it was only flown there when a head of state was staying there. He claimed that there are only two flags flown there, one representing the United States and the other the hotel.
He advised hiring a financial advisor to investigate all potential joint ventures for building the hotel, as suggested by the previous administration.
Rafique stated that he wants the Roosevelt Hotel decisions to be made by the next administration.
He emphasised that ”selling the hotel was not an option, not now and not in the future, just to get it up and running.”
The minister claimed that PIA is having a great deal of difficulty. He said that a joint venture between the PIA and Turkish Airlines had brought in Rs2.14 billion. He added that a joint venture proposal from Emirates Airlines has been made and is being considered.
According to the minister, PIA’s revenue is anticipated to reach Rs170 billion, which is the highest.
Additionally, he stated that a brand-new Boeing 777 would soon join the PIA fleet. He continued by saying that the airline was anticipated to increase its revenue this year to Rs170 billion, which was the highest level to date.
On September 23, 1924, hotel built by Niagara Falls industrialist Frank A. Dudley welcomed its first guests. United Hotels Company was in charge of its management.
The national carrier leased the hotel in 1979 via its investment division, PIA Investments Ltd, with the option to buy the structure after 20 years. A significant investor in the 1979 purchase was Prince Faisal bin Khalid bin Abdulaziz Al Saud of Saudi Arabia.
Following the 20-year tenure, PIA paid $36.5 million to purchase the hotel in 1999.