Islamabad:
Financial advisor, World -Real Estate Services firm Jones Lasali has decided to withdraw from this responsibility due to a possible conflict with interests by the federal government.
According to the privatization Commission, the World -Real Estate Services firm, “Jones Lang Lasle” (JLL), who served as a financial advisor for privatization of Roosevelt Hotel, has formally informed the decision to withdraw from this responsibility due to a formal confrontation with interests.
In its correspondence, JLL has informed the Commission that it is ready to return all the money.
It should be noted that JLL was appointed to advise the Government of Pakistan on the possible privatization of Roosevelt Hotel New York through a competitive process in January 2024 and during its responsibility, JLL completed the hotel investigation and prepared several potential privatization models, which looking at the international standard and market status.
According to JLL, many of his customers showed deep interest in the hotel after canceling the Roosevelt Hotel Lease Agreement with New York City, leading to a possible contradiction to the firm.
The company said that keeping in mind the situation, JLL decided to separate from responsibility to avoid any real or influence -related interest conflict.
The Privatization Commission has taken notice of this important success and announced the appointment of a new financial advisor at the rapid pace of a new financial advisor to continue the privatization process of the Roosevelt Hotel in a transparent and competitive manner and proceeds on the basis of pre -revolved preparations.
On the other hand, the Government of Pakistan and the Privatization Commission have confirmed the commitment that the ongoing privatization of the Roosevelt Hotel will be met keeping in mind all the legal requirements.