According to detail from sources privy to development the national flag carrier has sought the help from high court lawyers in litigation process it prepares grounds to fight case of Roosevelt Hotel in USA which is feared to awarded to the international mining company.
Pakistan international airline will hire our own lawyer and will fight the case via off shore company (PIA) Investment Limited (PIAIL) established in BVI the sources confirmed of development.
CAA takes steps to remove ICAO’s concerns over pilots licence
Separately to happen earlier today is. the Civil Aviation Authority (CAA) adopted effective measures to remove concerns of International Civil Aviation Organization (ICAO) regarding the issuance of pilots’ licences,
The CEO said the Privatisation Commission had been approached through the federal government to hire a financial consultant through an international tendering process to devise a future course of action for the hotel, considering all the available options, including demolishing the building and to build a new one or to renovate the existing premises.
it would be decided later whether necessary renovation or repair would be carried out or the existing building should be demolished for reconstruction and raising a new high rise hotel.
Roosevelt Hotel a 19-hotle building located at prime location in New York, was acquired in 1978 on partnership from own profits and as a part of PIA diversification strategy. In 1999, it acquired 100pc shareholding at $36.5 million from own resources and without any aid from the government.
He briefed the meeting that property had more than thousand rooms, having area of 43,313 square feet, adding it was run by the world’s premier Hotel Management Company ‘Interstate Hotel and Resorts The committee told that current market value of the hotel assessed by M/s Deloittee, was $662 million based on the highest and best use.
The financial position hotel had been in the Red mainly due to debt servicing, dilapidated building, rooms and public area conditions, which needed immediate upgrade and major repairs. The PIA CEO said declining business of hotel further aggravated due to the coronavirus pandemic, which could increase the loss to $6 million per year.
chairman of the committee expressed concerns over dubious licences of some pilots and said it caused a heavy dent PIA. He said PIA consider reopening of the routes where the Covid-19 related issues had addressed, especially Japan and China.
Senator Sherry Rehman said the who had been posted as the HR manager in the PIA, should repatriated to its parent department with recommendation to hold fresh inquiry against him.
It is classic textbook case of harassment and officer be removed from post and sent back to its original organisation It is a black mark on his parent department which is prestigious After hearing both victim and accused in camera, committee recommended to surrender the accused to his parent department.
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