KARACHI: The Pakistan Business Council (PBC) has raised alarms about an increasing trend of multinational companies (MNCs) planning to relocate their back offices from Pakistan, with several already having done so recently. This shift is largely attributed to widespread internet disruptions caused by the reported imposition of a firewall, severely impacting business operations.
The warning coincides with a report from the Dubai Chamber of Commerce, which revealed that 3,968 Pakistani companies registered in Dubai during the first half of 2024, marking a 17% increase from the same period in 2023. This trend underscores the growing exodus from Pakistan, a country already struggling with economic challenges, including high unemployment and slow growth.
The PBC expressed deep concern over the negative impact of these disruptions on Pakistan’s tech industry, warning that they could result in financial losses of up to $300 million. The council urged the government to address the issue by ensuring high-speed connectivity, which is crucial for both the domestic economy and achieving export targets. The Overseas Investors Chamber of Commerce and Industry (OICCI) also echoed these concerns, emphasizing that frequent internet disruptions could derail the country’s economic progress.
Story by Shahid Iqbal
