Dawn
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15:51 Feb 19, 2026
The finance ministry said on Thursday that Pakistan and the United States had formally launched a strategic economic initiative, including collaboration regarding the operation, maintenance, renovation and redevelopment of the Roosevelt Hotel in New York. In a statement, the ministry said that the initiative would include collaboration with the US General Services Administration (GSA) for the redevelopment of the hotel. “This engagement was negotiated and stewarded by US Special Envoy Steve Witkoff under the leadership of President Donald J. Trump,” it said. “To advance this partnership, both governments have signed an MoU formalising their cooperation,” the ministry added. The statement said the MoU was signed by GSA Administrator Edward C Forst and Finance Minister Muhammad Aurangzeb, and was witnessed by Prime Minister Shehbaz Sharif and Witkoff. “It establishes a structured, time-bound framework for joint evaluation of the technical, commercial, and economic parameters of cooperation, reflecting a shared ...