Republican biotech entrepreneur Vivek Ramaswamy has strongly criticized New York City for leasing the Roosevelt Hotel in Manhattan, owned by the Pakistani government through Pakistan International Airlines (PIA), for $220 million, and leasing it out to illegal migrants.
The Roosevelt Hotel, which has remained shuttered since 2020, now serves as temporary housing for undocumented immigrants under a three-year lease agreement with New York City. This deal is projected to generate significant revenue for the Pakistani government over its duration.
Ramaswamy took to X (formerly Twitter) to express his concerns, stating, “A taxpayer-funded hotel for illegal migrants is owned by the Pakistani government, which means NYC taxpayers are effectively paying a foreign government to house illegals in our own country.”
The issue gained attention after author John LeFevre highlighted the deal on X, describing it as part of a larger $1.1 billion International Monetary Fund (IMF) bailout to prevent Pakistan from defaulting on its foreign debt. LeFevre also noted the hotel’s troubled history, saying, “Prior to this sweetheart deal, the hotel had been closed since 2020, having long struggled with occupancy and in dire need of renovation.”
Khawaja Saad Rafique, Pakistan’s Minister of Railways and Aviation, confirmed the agreement, announcing in July that a 1,250-room lease had been signed. He emphasized that the hotel would revert to Pakistani control after the lease ends.
“The lease agreement is expected to generate revenues to the tune of around USD 220 million for the Pakistan government,” Rafique stated.
The deal has sparked controversy, with critics like Ramaswamy questioning the use of taxpayer funds and the involvement of a foreign government in such arrangements.
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