The Privatisation Commission Board (PCB) in Islamabad has appointed a financial adviser to oversee the leasing process of the Roosevelt Hotel in New York for a joint venture mixed-use development project. The commission had invited proposals and received submissions from four parties, with the consortium led by Jones Lang LaSalle Americas Inc (JLL) being declared the top bidder. The PCB has formed a negotiating committee to finalize the financial services agreement with the top-ranked bidder. The Roosevelt Hotel is currently owned by PIA Investments Ltd, a subsidiary of Pakistan International Airlines Corporation Ltd, and is located on Madison Avenue in Manhattan. Additionally, the PCB Board meeting also discussed the recommendation to seek the delisting of the Nandipur Power Plant and Guddu Power Plant from the privatisation programme. The board also approved the appointment of a transaction committee to oversee the implementation of the financial services agreement for the PIACL transaction.