Pakistan is moving forward with plans to secure between $4 billion and $5 billion in joint investment to redevelop the historic Roosevelt Hotel in New York City, a key overseas asset owned by Pakistan International Airlines Investment Ltd. The government is expected to appoint a financial adviser by the first week of March to design the transaction structure for the redevelopment and financing of the Manhattan property. Under the proposed model, Islamabad intends to retain ownership of the hotel while bringing in an investor to arrange financing, with the aim of generating long‑term returns instead of selling the high‑value asset outright.
Adviser to the Prime Minister on Privatization Muhammad Ali told reporters that the incoming financial adviser will develop the legal and financial framework for reconstruction, but he did not specify a timeline for financial close. The plan reflects a strategic approach to monetize state‑owned property amid fiscal challenges and unlock value from valuable assets abroad.
Deputy Prime Minister and Foreign Minister Ishaq Dar said Pakistan is pursuing “tailored cooperation” with partner countries, strengthening ties with China under CPEC‑II while reinvigorating engagement with the United States in trade, technology, investment and regional stability. Dar also emphasized Islamabad’s diplomatic efforts to ease escalating tensions between the US and Iran, citing “numerous” high‑level conversations aimed at promoting dialogue and peaceful solutions.
At the Pakistan Governance Forum 2026, Planning Minister Ahsan Iqbal said Pakistan faces a choice between reaching a $600 billion economy by 2035 under current growth rates or transforming into a $1 trillion economy through accelerated reforms and improved governance, noting that stronger policy implementation would determine the country’s long‑term trajectory.