Saad Rafiq says Roosevelt Hotel has been given on lease for three years
\nLAHORE
\nAviation and Railways Minister Khawaja Saad Rafiq has said that the government will divide the Pakistan International Airlines (PIA) into two entities to steer it out of severe financial deficit.
\nThe minister was addressing a presser in Lahore on Sunday. He said that in order to fend off financial crunch currently being faced by the national flag carrier, the government would divide the PIA into two entities \u2013 administrative and operational.
\nTalking about PIA Roosevelt Hotel in Manhattan, he said that the hotel has been given on lease for three years to an American organization, New York City Administration. \u201cRoosevelt Hotel is an asset of Pakistan in America. We have given it on lease for three years. Pakistan will earn $220 million through this lease.
\nWe have utilized this asset for generating money,\u201d Saad Rafiq added. Khawaja Saad Rafique has said that outsourcing airports could serve as a solution to address the persistent basic facility woes in the country. He announced plans to outsource airports in Lahore, Karachi, and Islamabad.
\nThe minister also highlighted the lack of basic facilities in the existing airports, emphasizing the need for improvement. The operation of these airports will be entrusted to an international firm, with the aim of enhancing the services provided, he added.
\nSaad Rafique mentioned that an agreement has been signed with the International Financing Corporation (IFC), and numerous countries have expressed interest in collaborating with the IFC.
\nRecognizing the existing challenges, Rafique argues that involving private entities in airport management and operations would lead to improved basic facilities for passengers and travelers. \u201cPlans are underway to make Suhrawardi Khan Airport an international airport,\u201d he added.
\nIn light of the current state of affairs, Saad Rafique emphasized that PIA cannot continue in its current condition and that changes are required to improve its operations. Khawaja Saad Rafique, the Minister of Railways, stated that the hotel will bear its own expenses and contribute to Pakistan\u2019s economy.
\nAdditionally, it was decided that no employee from the Civil Aviation Authority (CAA) will be employed at the hotel. The Ministry of Railways has expedited the efforts and approached the federal and provincial departments to recover an amount of over Rs 8375 million (over 8 billion) by different departments on account of using its land and various services.
\nAn official said, \u201cMinister for Railways Khawaja Saad Rafique has asked the official concerned to approach the federal and provincial departments for recovering the amount as soon as possible\u201d.
\nThe federal departments have to pay an amount of Rs.709.084 million, provincial departments Rs.1980.217 million and autonomous and private bodies Rs.5685.736 million, he expressed. Pakistan Railways, he said has upgraded as many as 167 vulnerable un-manned level crossings to manned level crossings, out of which 550 are identified by the department over the entire railway network last year.
\n\u201cGovernment was taking several steps including the up-gradation of unmanned and vulnerable railway level crossings across the country in collaboration with respective provincial governments,\u201d added official.<\/p>\n","protected":false},"excerpt":{"rendered":"
Saad Rafiq says Roosevelt Hotel has been given on lease for three years LAHORE Aviation and Railways Minister Khawaja Saad Rafiq has said that the government will divide the Pakistan International Airlines (PIA) into two entities to steer it out of severe financial deficit. The minister was addressing a presser in Lahore on Sunday. He […]<\/p>\n","protected":false},"author":2,"featured_media":299385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[11472],"class_list":{"0":"post-335532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-saad-rafiq"},"yoast_head":"\n