Foreign companies are running away from Pakistan, know the reason

Pakistan News: Slow and irregular internet services in Pakistan due to the controversial firewall system being implemented by the government in Pakistan may lead to a massive exodus of foreign businessmen from the country. This warning has been given by the Pakistan Business Council (PBC) and Pakistan Software Houses Association (PSHA). This warning comes at a time when a few months ago some top companies like Uber, Pfizer, Shell, Eli Eli (USA), Sanofi (France), Telenor (Norway), Lotto Chemical (South Korea) sold their full or partial stake to local companies.

Foreign companies leaving Pakistan

This move indicated a sharp decline in foreign investment and raised questions about Pakistan's investment climate, economic policies and regulatory barriers. PBC said in a statement, "Many multinational companies (MNCs) are either planning to shift their offices from Pakistan or have already done so, as the alleged imposition of firewall is causing massive internet disruptions across the country." Bad situation for the country's economy

Top financial analyst Sarwat Ali said that digital economy is essential for the growing economy of any country. He said, "Pakistan is already facing economic challenges due to rising unemployment and sluggish growth. In such a situation, it would not be right for investors and businesses to feel insecure about the future of digital or outsourced businesses." A recent report claimed that nine big companies have sold their assets in Pakistan in the last two years, which is a big blow to the country's economy.