Islamabad: The Economic Coordination Committee (ECC) on Wednesday (June 16), approved a grant worth USD 17.3 million to settle Pakistan International Airline (PIA)’s Roosevelt Hotel’s liabilities, a news source reported. The ECC meeting was presided over by Finance Minister Shaukat Tarin.
In January 2021, PIA announced to fight for the Roosevelt Hotel, which was pledged in the Reko Diq mining lawsuit and was being evaluated by a British Virgin Islands (BVI) court to settle the dispute. According to sources, PIA has begun working with the high court counsel to rescue the hotel.
The meeting also approved grant for the state news agency and television channel. Further, the meeting members reviewed a report on operation losses incurred on petrol supply via pipelines and approved 0.5% of these loses.