ISLAMABAD: The privatisation commission has recommended the One-Transaction Structure opt­ion for the sale of the Roo­sevelt Hotel in New York City, a top official told the Senate Standing Commi­ttee on Privatisation.

The Senate body, chaired by Senator Afna­nullah Khan, was also informed by Privatisation Secretary Usman Akhtar Bajwa that a committee had been constituted to engage investors for another shot at selling off Pakistan International Airlines (PIA).

During its meeting on Friday, the committee recommended that the privatisation commission tighten its pre-qualification criteria to restrict non-operational bidders, such as Blue World City, from participating in the upcoming bid.

A previous attempt to privatise the airline last year fell flat when it received only a single offer from Blue World City, which was far below the........

© Dawn Business