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ECC allows renting out PIA-owned Roosevelt Hotel in New York

06:15 PM | 29 Apr, 2023
ECC allows renting out PIA-owned Roosevelt Hotel in New York
Source: File Photo

ISLAMABAD – The Economic Coordination Committee (ECC) has approved an offer made by New York City Government to utilize the Roosevelt Hotel, owned by the Pakistan International Airlines, for a period of three years on rent.

Finance Minister Ishaq Dar chaired the meeting of the ECC when Ministry of Aviation submitted a summary on Challenges and re-opening of Roosevelt Hotel, New York and informed that “PIA investment Limited (PIA-IL) management has got an opportunity offered by New York City Government to utilize the Hotel ( 1,025 rooms) over a period of three years for migrant business @ US$ 200 per room per day”.

The ECC after discussion approved the recommendations of the ministry and approved the formation of a four member negotiating committee led by the Secretary Aviation Division to negotiate with the New York City Government and the Hotel Union.

The ECC also allowed PIA-IL/ RHC to utilize the funds of $ 1.145 million from the available balance as bridge financing to commence the re-opening work at the Hotel.


Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76


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