KARACHI: Pakistan International Airline (PIA) Monday signed a new agreement for its Roosevelt Hotel in the United States of America to generate revenue of approximately $5.4 million annually. According to sources, the PIA has entered into a new agreement with the New York City Health and Hospitals Corporation for its Roosevelt Hotel in the USA. The American firm has also reached a settlement agreement with the union of the Roosevelt Hotel. It is worth noting that the Pakistan Stock Exchange (PSX) administration had sought a response from the PIA administration regarding the matter of the Roosevelt Hotel in the United States. Headed by Finance Minister Ishaq Dar, the ECC also endorsed the withdrawal of lawsuits and reached a $56 million settlement deal with the sacked employees of the Roosevelt Hotel, New York.
