$17.3mn approved to clear Roosevelt Hotel’s liabilities

The Economic Coordination Committee (ECC) of the cabinet on Wednesday permitted $17.3 million funding to clear the Roosevelt Hotel’s liabilities.

A meeting of the ECC chaired by Finance Minister Shaukat Tarin has also approved Rs 274 million grant for state televisions and news agencies.

It was decided in the meeting to provide additional wheat to the Khyber Pakhtunkhwa (KP) province.

Moreover, the sources claimed that the policy linking foreign funding to non-governmental organizations (NGOs) also came under conversation and it was later approved after discussions.

Whereas in December 2020, Prime Minister Imran Khan ordered action against foreign-funded NGOs defaming Pakistan within the next 48-hours.

Earlier on January 27, Pakistan International Airlines (PIA) had proclaimed it will be disputing to save its New York’s Roosevelt Hotel which was being assessed by a British Virgin Islands (BVI) court to settle the Reko Diq case as it was mortgaged against the deal.