Latest news with #PakistanInternationalAirlines
Express Tribune
3 days ago
- Business
- Express Tribune
Land routes barred for Arbaeen pilgrims amid security concerns
Listen to article The Pakistani government has imposed a ban on overland travel to Iran and Iraq for Arbaeen pilgrims, citing national security and public safety concerns. Interior Minister Mohsin Naqvi announced that pilgrims will now only be allowed to travel to the holy sites in Iran and Iraq by air. 'Pilgrims will not be permitted to use road routes to Iraq and Iran,' he said in a message shared on social media. 'This decision has been made in view of public safety and national security,' the minister added, stating that the ban was finalised after consultation with the Ministry of Foreign Affairs, the Balochistan government, and security agencies. After extensive consultations with the Ministry of Foreign Affairs, Balochistan Government, and security agencies, it has been decided that Zaireen will not be allowed to travel to Iraq and Iran by road for Arbaeen this year. This difficult decision was taken in the interest of… — Mohsin Naqvi (@MohsinnaqviC42) July 27, 2025 To accommodate the change, the federal government has decided to increase the number of flights. 'Under Prime Minister Shehbaz Sharif's directive, more flights will be arranged for Arbaeen pilgrims,' Naqvi said, noting that maximum possible flight capacity will be ensured. Pakistan International Airlines (PIA) has announced a special flight operation for Arbaeen starting August 8. Outbound flights from Pakistan to Najaf will operate from August 8 to 11, while return flights from Najaf to Pakistan are scheduled for August 18 to 23. Read More: Pakistan, Iran and Iraq to form joint body to streamline pilgrim travel PIA has set the fare at USD 675 per passenger for the special Arbaeen operation. However, many intending pilgrims have urged PIA to reduce the fare and introduce additional flights to meet high demand during the religious occasion. Every year, hundreds of thousands of Pakistani pilgrims travel overland to Najaf via Iran. The sudden ban on road travel is expected to significantly affect travel logistics, especially for those unable to afford air travel.
Yahoo
6 days ago
- Business
- Yahoo
Jones Lang LaSalle exits advisory role in sale of New York's Roosevelt Hotel
By Ariba Shahid KARACHI, Pakistan (Reuters) -Global real estate firm Jones Lang LaSalle (JLL) has quit its role as financial adviser on the partial sale of the Roosevelt Hotel in New York City, which is owned by Pakistan International Airlines, to avoid client conflict of interest, Pakistan said on Thursday. Pakistan is selling a minority stake in the hotel and looking for a redevelopment partner as it disposes of certain state assets under a privatisation programme agreed under a $7 billion IMF-backed reform plan. "The heightened interest in Roosevelt Hotel from many of JLL's own clients, post cancellation of its lease agreement with NYC, has put them in a compromising position,' Pakistan's Privatization Commission said in a statement, adding the firm resigned to avoid any 'perceived or actual' conflict of interest. JLL's exit will not derail the stake sale and a new adviser will be hired "on a fast track basis", the Commission said. Earlier this month, a senior official told Reuters that Pakistan is eyeing at least a $1 billion valuation and is ready to part with a minority stake in the property as it scouts for a redevelopment partner. The Roosevelt Hotel, a century-old property named after former U.S. President Theodore Roosevelt near New York's Grand Central Station, is one of Pakistan's top foreign assets. It is up for sale alongside power distribution companies in Pakistan and other state firms including PIA. The hotel was shut in 2020 due to losses and later leased to New York City as a migrant shelter. That lease ended earlier this year, and the property now sits vacant. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNA
6 days ago
- Business
- CNA
Jones Lang LaSalle exits advisory role in sale of New York's Roosevelt Hotel
KARACHI, Pakistan :Global real estate firm Jones Lang LaSalle (JLL) has quit its role as financial adviser on the partial sale of the Roosevelt Hotel in New York City, which is owned by Pakistan International Airlines, to avoid client conflict of interest, Pakistan said on Thursday. Pakistan is selling a minority stake in the hotel and looking for a redevelopment partner as it disposes of certain state assets under a privatisation programme agreed under a $7 billion IMF-backed reform plan. "The heightened interest in Roosevelt Hotel from many of JLL's own clients, post cancellation of its lease agreement with NYC, has put them in a compromising position,' Pakistan's Privatization Commission said in a statement, adding the firm resigned to avoid any 'perceived or actual' conflict of interest. JLL's exit will not derail the stake sale and a new adviser will be hired "on a fast track basis", the Commission said. Earlier this month, a senior official told Reuters that Pakistan is eyeing at least a $1 billion valuation and is ready to part with a minority stake in the property as it scouts for a redevelopment partner. The Roosevelt Hotel, a century-old property named after former U.S. President Theodore Roosevelt near New York's Grand Central Station, is one of Pakistan's top foreign assets. It is up for sale alongside power distribution companies in Pakistan and other state firms including PIA. The hotel was shut in 2020 due to losses and later leased to New York City as a migrant shelter. That lease ended earlier this year, and the property now sits vacant.
Reuters
6 days ago
- Business
- Reuters
Jones Lang LaSalle exits advisory role in sale of New York's Roosevelt Hotel
KARACHI, Pakistan, July 24 (Reuters) - Global real estate firm Jones Lang LaSalle (JLL) (JLL.N), opens new tab has quit its role as financial adviser on the partial sale of the Roosevelt Hotel in New York City, which is owned by Pakistan International Airlines, to avoid client conflict of interest, Pakistan said on Thursday. Pakistan is selling a minority stake in the hotel and looking for a redevelopment partner as it disposes of certain state assets under a privatisation programme agreed under a $7 billion IMF-backed reform plan. "The heightened interest in Roosevelt Hotel from many of JLL's own clients, post cancellation of its lease agreement with NYC, has put them in a compromising position,' Pakistan's Privatization Commission said in a statement, adding the firm resigned to avoid any 'perceived or actual' conflict of interest. JLL's exit will not derail the stake sale and a new adviser will be hired "on a fast track basis", the Commission said. Earlier this month, a senior official told Reuters that Pakistan is eyeing at least a $1 billion valuation and is ready to part with a minority stake in the property as it scouts for a redevelopment partner. The Roosevelt Hotel, a century-old property named after former U.S. President Theodore Roosevelt near New York's Grand Central Station, is one of Pakistan's top foreign assets. It is up for sale alongside power distribution companies in Pakistan and other state firms including PIA. The hotel was shut in 2020 due to losses and later leased to New York City as a migrant shelter. That lease ended earlier this year, and the property now sits vacant.
Yahoo
6 days ago
- Business
- Yahoo
Jones Lang LaSalle exits advisory role in sale of New York's Roosevelt Hotel
By Ariba Shahid KARACHI, Pakistan (Reuters) -Global real estate firm Jones Lang LaSalle (JLL) has quit its role as financial adviser on the partial sale of the Roosevelt Hotel in New York City, which is owned by Pakistan International Airlines, to avoid client conflict of interest, Pakistan said on Thursday. Pakistan is selling a minority stake in the hotel and looking for a redevelopment partner as it disposes of certain state assets under a privatisation programme agreed under a $7 billion IMF-backed reform plan. "The heightened interest in Roosevelt Hotel from many of JLL's own clients, post cancellation of its lease agreement with NYC, has put them in a compromising position,' Pakistan's Privatization Commission said in a statement, adding the firm resigned to avoid any 'perceived or actual' conflict of interest. JLL's exit will not derail the stake sale and a new adviser will be hired "on a fast track basis", the Commission said. Earlier this month, a senior official told Reuters that Pakistan is eyeing at least a $1 billion valuation and is ready to part with a minority stake in the property as it scouts for a redevelopment partner. The Roosevelt Hotel, a century-old property named after former U.S. President Theodore Roosevelt near New York's Grand Central Station, is one of Pakistan's top foreign assets. It is up for sale alongside power distribution companies in Pakistan and other state firms including PIA. The hotel was shut in 2020 due to losses and later leased to New York City as a migrant shelter. That lease ended earlier this year, and the property now sits vacant. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
