The Pakistan Business Council (PBC) warned on Friday that numerous multinational companies are planning to relocate their offices from Pakistan, with many having already left the country, due to severe internet disruptions.
“Many multinational companies (MNCs) are either planning to relocate their back offices from Pakistan or have already done so, as the reported imposition of a firewall causes widespread internet disruptions across the country,” the PBC stated.
Alarm bells went off when the Dubai Chamber of Commerce released a report highlighting that 3,968 Pakistani companies were registered in Dubai between January and June 2024.
Pakistan ranked second among the top countries whose companies registered in Dubai, signalling an exodus of businesses from Pakistan.
Hundreds of thousands of skilled and unskilled workers already exist in the country in search of better opportunities abroad.
“While we struggle with the costs of idle capacity in power generation leading to unemployment and loss of exports and tax revenue, we now have to contend with the threat of idle capacity in the emerging software sector due to poor firewall execution,” lamented the body.
The tech industry has expressed serious concerns about the internet slowdown, warning that it could cost the debt-ridden nation up to $300 million.
