Pakistan’s NAB to probe closure of Roosevelt Hotel

In this news, we discuss the Pakistan’s NAB to probe closure of Roosevelt Hotel.

Pakistan National Accountability Office (NAB) chairman Judge Javed Iqbal tasked the chief executive of the Rawalpindi office to probe the reasons for the decision to close the iconic Roosevelt Hotel, a press release said on Tuesday. According to the statement, Iqbal took note of reports that the hotel, owned by the Pakistani government, will be closed by the end of the month, reported The Dawn.

NAB will also examine the reasons for the alleged loss of hundreds of thousands of dollars borne by the government. The accountability watchdog will also point to those officials who have been “negligent in carrying out their national duties” and failed to play a role in turning the hotel into a profitable entity, according to The Dawn.

The Roosevelt Hotel had announced Thursday that it would permanently close its doors to customers from October 31. “We at The Roosevelt Hotel have enjoyed being a part of your stories and being an integral part of Midtown Manhattan’s history since 1924. But after nearly 100 years of welcoming guests to New York City, the Roosevelt Hotel is closing. unfortunately its doors definitively as of October 31, 2020 ”, declared the hotel in its Facebook Publish.

Located at the corner of Madison Avenue and Manhattan 45th Street in New York City, the Roosevelt Hotel is owned by the Government of Pakistan through PIA Investments Limited. The hotel opened in 1924 and was leased by the national carrier in 1979 and purchased later in 1999, according to the Daily Pakistan.

In its statement, the hotel said the decision was made for economic reasons. (ANI)

News Highlights:

  • Pakistan National Accountability Office (NAB) chairman Judge Javed Iqbal tasked the chief executive of the Rawalpindi office to probe the reasons for the decision to close the iconic Roosevelt Hotel, a press release said on Tuesday.
  • Pakistan NAB investigates Roosevelt Hotel closure
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