The Pakistan Business Council (PBC) has issued a warning that several multinational companies (MNCs) are planning to relocate their back offices from Pakistan due to widespread internet disruptions. This development comes as a concern for the country’s economy, which is already grappling with severe unemployment and sluggish growth.
According to a report by the Dubai Chamber of Commerce, 3,968 Pakistani companies registered in Dubai between January and June 2024, making Pakistan the second-ranked country on the list. This surge in Dubai-based Pakistani businesses highlights a growing exodus from a country struggling with economic challenges.
The PBC attributes the MNCs’ decision to relocate to the government’s imposition of a firewall, which has caused internet disruptions across the country. This move reflects a deepening lack of confidence in the government’s economic policies, including the high cost of doing business, political uncertainties, soaring electricity costs, and deteriorating law and order.
The tech industry has expressed serious concerns over the internet slowdown, warning that these disruptions could cost Pakistan up to $300 million. The PBC has urged the authorities to revisit the firewall policy and find alternative solutions that do not harm the economy.
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