NEW YORK: Making a biased statement, Indian-American Vivek Ganapathy Ramaswamy, a nominee of US President-elect Donald Trump to improve the performance of the US government, has brought the story of the PIA Investment-owned Roosevelt Hotel in New York to the attention of Americans, Indians and Pakistanis.
Ramaswamy is a close friend of Vice President-elect JD Vance.
Ramaswamy’s political and financial statement is biased because the administration of New York City Mayor Eric Adams not only acquired Roosevelt Hotel rent for housing illegal immigrants, but also over 100 other small and large hotels within the city limits to fulfill the requirement for 14,000 rooms. Several of these hotels are owned by foreign and non-American companies, such as the Indian Taj Group, Air India, and others.
Ramaswamy, before labeling the Roosevelt Hotel as owned by the Pakistani government, should have researched all facts about this hotel before determining the direction of his political statement and its practical purposes. T
In his statement, he attempted to create the impression that New York City is paying a rent of $220 million to the Pakistani government for the Roosevelt Hotel. In fact the hotel is owned by PIA Investment, which is a semi-governmental corporation, and the three-year $220 million dollars lease would only generate $18 million in cash for the PIA Investment upon completion of the lease, which began on May 15, 2023.
Had Ramaswamy reviewed the terms and conditions before issuing his biased political statement, he would have faced difficulty in making such claims. Ramaswamy has yet to take his oath of office, and his position involves taking steps to improve the federal government’s performance. Commentary on state finance, performance, or municipal (city) government revenues and expenditures is not part of his responsibilities. However, he and his boss, Elon Musk, have the right to offer opinions or objections regarding the grants and funds provided by the federal government to these state and municipal governments.
This statement from Ramaswamy, who was born to Indian immigrant parents in Ohio, is actually an indication of the future difficulties and complexities surrounding the Roosevelt Hotel, revealing how different parties are lying in wait to strike.
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