KARACHI: The Pakistan Business Council (PBC) has issued a warning that multinational companies are increasingly considering relocating from Pakistan due to major internet disruptions. This comes after a report from the Dubai Chamber of Commerce, which shows a notable rise in Pakistani businesses registering in Dubai—3,968 in the first half of 2024, up 17% from last year.
The growing number of businesses moving to Dubai highlights a broader trend of Pakistani companies and workers looking for opportunities abroad, driven by rising unemployment and economic challenges at home. The PBC attributes these issues to a new firewall that has led to severe internet outages, eroding trust in the country’s economic policies.
The tech industry, in particular, faces significant impacts, with potential losses estimated at $300 million. The PBC is urging the government to quickly address these disruptions to avoid further harm to jobs and exports. The Overseas Investors Chamber of Commerce and Industry (OICCI) also cautions that persistent internet problems could derail Pakistan’s economic progress.
The PBC stresses the need for reliable, high-speed internet to support both domestic and international business and calls for immediate action to resolve these issues.
