Chinese firm plans to invest up to $600 million in instant services in Pakistan
With the China-Pakistan Economic Corridor (CPEC) all set to introduce foreign capital and advanced technology in the country and create an immense number of jobs, it is clear that the project is going to have a massive impact down the road. Furthermore, it seems to have encouraged a greater amount of Chinese involvement, as shown by the recently revealed plan of a Chinese firm to provide five important services in Pakistan.
Timesaco, a company specializing in instant delivery, cargo services, and cabs, has laid out a business plan to invest $20 million in a whole host of special services in Pakistan, which include taxi service, heavy cargo delivery, orders delivery, moving automated teller machines (ATM) and vehicle advertisement facilities. Additionally, the investment will be bumped up to $600 million in the future.
The announcement was made by Timesaco Chief Operating Officer (COO) Donald Li on Wednesday. He stated that these instant services will be launched in major cities of Pakistan including Karachi, Lahore, Faisalabad, Peshawar, Islamabad, and Rawalpindi, before being introduced in other urban centers.
Apparently, Timesaco has already gone ahead with its pre-launch event in Islamabad a week ago, in which it introduced Buraq (taxi service), Fema (instant delivery) and Cargo+ (city freight service).
Mr. Li emphasized that advanced technology and the power of eCommerce will be employed in implementing these services. Customers can simply download Timesaco’s application from Google Play Store in order to start availing all five of these instant services.
With regards to the taxi service, he said that interested individuals could register their vehicles without any prerequisites whatsoever. Drivers will take away the lion’s share of their earnings i.e. 97 percent, while 2 percent of it will go to the company and the remaining 1 percent will be invested in Drivers Club for the provision of health and education facilities to the drivers’ families.