Uber to invest $500 million in Pakistan

Ride-hailing service Uber has announced that the company will be expanding its operation in Pakistan through an investment of $500 million by 2020.

With the increase in global population, mobility has become stressful. Many ride-hailing services across the globe are trying to ease this situation by offering cheap and affordable rides.

In Pakistan there are mobility problems, accessibility, comfort and cost of public transport are a huge concern of citizens which has been tackled by the newly entered ride hailing services Uber and Careem. These services, dearly appreciated by the citizens, are giving rides to the masses, and are trying to expand their operation within the country.

The announcement of 500M investment came in after the head of Uber’s Europe, Africa, and Middle East division Pierre-Dimitri Gore-Coty met with the Chairman Federal Board of Investment, Dr. Miftah Ismail, to discuss the expansion of the company in Pakistan.

While taking about the investment plan of the company for Pakistan, Pierre-Dimitri Gore-Coty said, “We will continue to work closely with the government as Pakistanis benefit from reliable, affordable and safe transportation like Uber”, he further asserted, “ Uber is committed to creating thousands of work opportunities and overall economic empowerment for Pakistani”.

Furthermore, after the company made its intention clear of expanding its investment in Pakistan, the Chairman Federal Board of Investment, Dr. Miftah Ismail said, “Pakistan has a strong economy and a rising middle class that can benefit tremendously from Uber’s innovative technology”.

“Since March 2016, Uber has been operating in Pakistan, providing affordable and reliable transportation while creating tens of thousands of economic opportunities for Pakistanis” he further added.

Uber has also recently launched its services for the people of Rawalpindi and Gujranwala and is expected to launch various new operations across Pakistan.

Now let us wait and see how Careem, the arch-rival of Uber, reacts to this move made by Uber.