Doors to close for Grand Hyatt construction as govt battles with financial issues?
The government’s tight finance policies and the scrutiny by the International Monetary Fund may affect the construction of the Grand Hyatt.
Reports reveal, the government may even end up selling the project mid-constructed.
The Mirror Business reports that a contractor involved in the construction, under the condition of anonymity, said the construction of the Grand Hyatt is now going at a slower pace.
The article notes, the discussions have taken place with Canwill Holdings (Pvt) Ltd – the state owned holding company of the hotel, to further slow down the construction due to financial difficulties.
The 2016 and 2017 budget said, it would dispose non strategic enterprises including the Grand Hyatt.
The paper further notes, an official at the Public Enterprise Development Min...