ISLAMABAD, Feb 26: The privatisation of PIA’s Roosevelt Hotel in New York has been opposed by Pakistan People’s Party which wants the caretakers to leave the issue for the new government.

“The interim government should not have taken such a vital decision in a hurry as it will hurt national interests,” Senator Enver Baig, Chairman of Foreign Liaison Committee of PPP, told Dawn.

Reacting to a recent decision of the Cabinet Committee on Privatisation (CCoP) regarding privatisation of the Roosevelt Hotel, he asked the caretaker prime minister, who presided over the meeting, to desist from finalising the deal.

He expressed his indignation over the proposed deal and claimed that panic sale would cast doubts on the transparency of the deal as it involved former prime minister Shaukat Aziz and Citibank.

He said that the PIA was being deliberately ruined so that on the pretext of funds, Roosevelt Hotel could be sold.

Earlier, estimates of sale price varied from $500 million to $1 billion for the hotel situated at prime location near grand central station which was the nerve centre of New York Subway. Some people had lobbied to sell it around $500 million, Senator Baig alleged.

He claimed that at a time when US dollar was fast losing its value against euro, PIA was buying European Air Bus Aircraft, and a deal of seven A-320 Aircraft had already been finalised in a hurry.

He said that at the same time, the PIA management was considering leasing one of its Boeing-777 aircraft as it was surplus to its requirements after the airlines closed routes to the US.

He said there was no logic to sell the Roosevelt Hotel to buy aircraft for short-haul domestic routes, where private carriers could be encouraged to expand their networks.

He alleged that mismanagement by non-professionals was responsible for accumulated loss of Rs45 billion to the PIA during the last four years.

He said the PPP was not in favour of privatisation of PIA as the current mismanagement was a ploy to hand over the airline to some vested interest.

After the takeover by the PPP, PIA would be restructured into a viable airline within a short time with a professional management, Senator Baig said.

Moreover, no retrenchment would take place in the PIA and the CAA, he said, adding purchase of two new aircraft by the CAA for calibration was also unnecessary.

He said that both the CAA and PIA were ruined by Mr Shaukat Aziz as favourites were given important positions.