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Chinese firm Timesaco vows to overhaul the service sector in Pakistan by investing 20 million USD

  • July 27, 2019
Chinese firm Timesaco vows to overhaul the service sector in Pakistan by investing 20 million USD
Image caption Chinese firm Timesaco vows to overhaul the service sector in Pakistan by investing 20 million USD

ISLAMABAD: Chairman Board of Investment (BOI) and State Minister for investment, Zubair Gilani on Friday welcomed the $20 million investment in Services sector of the country. “BOI is committed to support the foreign investment and also provide facilities to the foreign investment through ease of doing business, he said this while meeting to the Chief Executive Officer (CEO) of integrated services company ‘Timesaco’  Donald-Li  ,said a press release issued by BOI. He said the BOI was working on Nine Special Economic Zones (SEZs) under the China Pakistan Economic Corridor (CPEC) for providing one window operation facility to the local and foreign inverters. Minister for State vowed that he will provide all possible facilities to the Information Technology (IT) sector. He added that, information technology has huge potential and in future it will be largest field in Pakistan. He offered full support to the foreign investment and hailed efforts of integrated services company ‘Timesaco’  for establishing the new taxi service “Buraq” including  five other services. On the occasion, Donald-Li appreciated role of BOI for providing guidelines and other facilities to local and foreign investors. He also appreciated Minister of State on helping investors for speedy materialisation of their projects and to enhance Pakistan’s international competitiveness to contribute in economic and social development.

He informed that ‘Timeseco’ would be establishing e-services platforms in Pakistan. While he also shared Timesaco’s concept and mission for Pakistan. Donald also expressed his views on investment opportunities in Pakistan and spoke that his company is intended to invest $20 million in e-services sector of Pakistan. He said that ‘Timesaco’ wants to empower the local investors and to create a working environment especially in IT sector. He further said that Timesaco is offering five different services in Pakistan including taxi service “Buraq”, instant delivery “Fema” and City Freight “Cargo+”.  Initially, these services are available in six big urban centre including Karachi, Lahore, Faisalabad, Rawalpindi, Islamabad and Peshawar, he added.  CEO of Timesaco said the company’s main objective is to provide best services in affordable rates. He said that ‘Timesaco’ offers lower price and care more for customers. He added that Buraq Taxi service will be very different from other existing players and it will be very profitable for drivers as well. Both, the Minister of State and CEO Timesaco talked on tax reforms and possible reliefs for foreign investors.

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