In response to these issues, the Pakistan Business Council (PBC) has raised concerns that many multinational companies are considering relocating their back offices out of Pakistan. The PBC warns that the internet disruptions caused by the new firewall could result in a substantial economic loss of up to $300 million and hinder the country’s progress, particularly in the tech industry.
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This development comes in the wake of a sharp rise in Pakistani businesses registering in Dubai, underscoring a growing trend of companies moving abroad amid high unemployment and economic stagnation in Pakistan. The economic crisis, driven by sluggish growth, rising unemployment, and political instability, is further aggravated by the deteriorating law and order situation.
The ongoing internet disruptions have deepened the uncertainty in Pakistan’s business environment, causing many companies to lose confidence and seek opportunities elsewhere. The combined impact of these challenges is threatening the country’s economic future and pushing businesses to consider relocating abroad.
