Its official! Roosevelt Hotel leased for three years and here's how much Pakistan will earn

11:30 PM | 4 Jun, 2023
Its official! Roosevelt Hotel leased for three years and here's how much Pakistan will earn
Caption: File Photo

ISLAMABAD - The government of Pakistan has confirmed that it has leased the famous Roosevelt Hotel in New York for three years.

Minister for Railways and Aviation Khawaja Saad Rafique confirmed on Sunday that the precious asset of the PIA Roosevelt Hotel, New York has been leased out for three years.

Addressing a news conference, the Minister said the agreement will generate a revenue of 220 million dollars and under this agreement, 1,250 rooms of the hotel have been leased.

He expressed regret that the previous government had made the decision to run the Roosevelt Hotel through a public-private partnership, adding that the hotel was closed during the covid-19 pandemic.

The minister further said that the airports in Pakistan will be outsourced, however, no employee of the civil aviation authority will be sacked.

'Outsourcing will be done through competitive bidding,' he added.

The Roosevelt Hotel deal is significant in terms of the location of the facility and the opportunities the city provides to the visitors and residents. New York City, the iconic metropolis that never sleeps, is a vibrant and bustling hub of culture, business, and diversity. With its towering skyscrapers, world-famous landmarks like Times Square and Central Park, and thriving arts and entertainment scene, the city captivates visitors from around the globe.

From the bright lights of Broadway to the trendy neighborhoods of Brooklyn, New York City offers multiple experiences to suit every taste. Its renowned museums, such as the Metropolitan Museum of Art and the Museum of Modern Art, showcase centuries of artistic brilliance and become the reason for many globetrotters to pay visit to the city.

The Roosevelt Hotel can serve as the best facility for visitors who have other options available in the city but those are much more expensive.  Besides, the government of Pakistan can also earn some bucks through the deal to shore up its economic reserves which are falling with each passing day.

Web Desk
Web Desk

Daily Pakistan Global Web Desk


Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on October 1, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on October 1, 2023 (Sunday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 286.05 289.15
Euro EUR  307 310
UK Pound Sterling GBP 353.3 357
U.A.E Dirham AED 80 80.8
Saudi Riyal SAR 76 76.75
Australian Dollar AUD 189 191
Bahrain Dinar BHD 778.84 786.84
Canadian Dollar CAD 220 222.2
China Yuan CNY 40.24 40.64
Danish Krone DKK 41.83 42.23
Hong Kong Dollar HKD 37.93 38.28
Indian Rupee INR 3.57 3.68
Japanese Yen JPY 1.63 1.71
Kuwaiti Dinar KWD 945.27 954.27
Malaysian Ringgit MYR 62.62 63.22
New Zealand Dollar NZD 174.58 176.58
Norwegians Krone NOK 27.87 28.17
Omani Riyal OMR 762.31 770.31
Qatari Riyal ‎QAR 80.69 81.39
Singapore Dollar SGD 208 210
Swedish Korona SEK 26.62 26.92
Swiss Franc CHF 323.01 325.51
Thai Bhat THB 8.12 8.27

Gold Rate in Pakistan Today – October 1, 2023

Today Gold Rate in Pakistan

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 202,800 on Sunday.

The price of 10 grams of 24k gold was recorded at Rs 173,870.

Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Today Gold Price in Pakistan - 1 October 2023

City Gold Silver
Lahore PKR 202,800 PKR 2,420
Karachi PKR 202,800 PKR 2,420
Islamabad PKR 202,800 PKR 2,420
Peshawar PKR 202,800 PKR 2,420
Quetta PKR 202,800 PKR 2,420
Sialkot PKR 202,800 PKR 2,420
Attock PKR 202,800 PKR 2,420
Gujranwala PKR 202,800 PKR 2,420
Jehlum PKR 202,800 PKR 2,420
Multan PKR 202,800 PKR 2,420
Bahawalpur PKR 202,800 PKR 2,420
Gujrat PKR 202,800 PKR 2,420
Nawabshah PKR 202,800 PKR 2,420
Chakwal PKR 202,800 PKR 2,420
Hyderabad PKR 202,800 PKR 2,420
Nowshehra PKR 202,800 PKR 2,420
Sargodha PKR 202,800 PKR 2,420
Faisalabad PKR 202,800 PKR 2,420
Mirpur PKR 202,800 PKR 2,420


Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter