These last few months have been very disastrous and confusing, IT has closed down due to economic crises.
The following have been closed:
Careem announced they would be closing down their food delivery service in the country because of uncertain economic conditions.
SWVL, a ride-sharing company, announced that it would not be able to operate in certain areas due to economic instability.
VAVA Cars (a huge car-buy-sell service) recently entered the Pakistani market. In June, they announced that they would be closing down permanently their operations in Pakistan due to economic difficulties.
Airlift, a huge local startup that has one of the largest fundraising events in the country, has ceased to exist due to unfavorable conditions.
The Main Reason:-
Instability and economic crisis lead to shutting down startups. The last 3-4 months have been extremely disastrous for the IT Sector.
It seems like the new administration has been unlucky for the country economically and Politically. The country is facing both economic and political crises that could prove fatal in the coming months.
The IT Sector is the most important and is often called 'FUTURE'. However, the new government is unable to reform the IT sector. This is leading to the downfall of the country.