Careem announces closing ride-hailing services in Pakistan from next month

Online taxi service Careem has announced the closure of its ride-hailing services in Pakistan from 18th July, marking the end of almost a decade-long presence in the country.

Careem’s CEO Mudassir Sheikha, in a LinkedIn post revealed its ‘new chapter in Pakistan’ and said, ”It is with a heavy heart that I share this update: Careem will suspend its ride-hailing service in Pakistan on July 18.”

Mudassir Sheikha cited increasing competition and global investment challenges as reasons behind the closure, maintaining that a reliable service has become ‘unfeasible’ under current conditions.

“This was an incredibly difficult decision. The challenging macroeconomic reality, intensifying competition, and global capital allocation made it hard to justify the investment levels required to deliver a safe and dependable service in the country. In the end, the Careem Rides team had to make this tough call,” the CEO added.

Read More: Careem ended operations in this country as part of Uber takeover deal

“It’s the end of an iconic chapter – one built with purpose, grit and a ton of relentless hustle.”

Mudassir Sheikha hoped to bring back the service in Pakistan in future.

“Pakistan is in Careem’s DNA – our first line of code was written here, and the country remains a rich source of innovation and talent for us. Our commitment to Pakistan remains strong, and I sincerely hope to bring Careem’s services back to the country in the future,” he said.

Careem, had launched its services in Pakistan in 2015.