The first Annual General meeting of Avant Hotels (Pvt.) Ltd., a joint venture company of the PCB and the Pakistan International Airlines Investments Limited (PIAIL), was held here at NCA on Monday (April 22, 2013).
The Federal Secretary Defence, Lt. Gen. (R) Asif Yasin Malik, who is also the chairman of the company, chaired the meeting. The PCB was represented by Chairman Ch. Zaka Ashraf, COO Subhan Ahmad, GM Estates PCB Abdul Ghafoor Bhatti while CFO Badar M. Khan and Legal Advisor Taffazul Rizvi were also present, The PIAIL, meanwhile, was represented by Secretary Defence Pakistan Government and Chairman, MD PIAIL Dr. Najeeb Samie and GM Fianance PIAIL Mr. Akbar Ali, who is also the company secretary.
The meeting discussed the progress on the project especially the status of sub-lease of the property at Karachi. The meeting approved the audited financial statement for the years 2009, 2010, 2011 and 12. The meeting approved auditors for the next financial year. The meeting also endorsed the previously approved increase in the number of directors from 5 to 7.
Avant Hotels (Pvt.) Ltd. was incorporated by PCB and PIAIL with the objective to construct an international standard hotel adjacent to Karachi’s National Stadium Karachi.
The project, which remained dormant for years, has been revived with the efforts of Chairman PCB and Secretary Defence and will result in establishing an international standard facility within the vicinity of the National Stadium, Karachi.
