Buisness

Pakistan Economic Crisis: Pakistan Handed over its luxury hotel to America

The financial condition of Pakistan is bad. Pakistan surrounded by political upheaval does not even have money to run the country. Foreign exchange reserves have reduced. Inflation has reached a record level. In such a situation, Pakistan is now making every effort to run the country. To repay the debt and run the country, now Pakistan is adopting every trick so that it can run the country. In such a situation, Pakistan rented out its famous ‘Roosevelt Hotel’ located in New York for 3 years.

Pakistan will get an amount of around $220 million from the deal to rent out its hotel. In this regard, Pakistan’s Aviation Minister Khwaja Saad Rafiq says that this hotel has been given on lease for 3 years to the New York Administration. It is one of those two big hotels of Pakistan, apart from New York the other hotel is in Paris. Both of them are at excellent location and equipped with hi-tech facilities.

The history of this hotel is 100 years old

The history of Roosevelt Hotel which Pakistan has given on lease for 3 years for money, is 100 years old. It is counted among the big and luxury hotels of New York. But Pakistan is now forced to hand over the hotel to America to run its country. Anyway, this hotel has been running at a loss since the Corona crisis.

It was told that Pakistan might also sell this hotel, although at present it has been given on lease. The news was also that the Government of Pakistan can sell this 19-storey hotel for money, but now the news has come to rent this hotel spread over 43313 square feet for 3 years.

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