Through progressive policies, K-P to champion tech enabled growth

Published: August 21, 2019
Taimur Jhagra's (K-P Finance Minister) visits Careem Headquarters in Dubai.

Taimur Jhagra's (K-P Finance Minister) visits Careem Headquarters in Dubai. PHOTO: CAREEM

A panel discussion on how Careem and other online marketplaces are progressing and how the government in Khyber-Pakhtunkhwa has helped evolve such platforms was held in Dubai.

The panel included Taimur Jhagra, Minister Finance, KP and Senior Leaders from Careem including Mudassir Sheikha, Co-Founder and CEO, Junaid Iqbal, MD Careem Pay, and Zeeshan Hasib Baig, General Manager Pakistan.

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“By introducing the progressive regulatory framework for Online Marketplaces and ride-hailing platforms, we have laid the foundation for an enabling business environment that will lead us to increased economic activity along with increased job opportunities,” said Jhagra, Provincial Minister for Finance while addressing the captains and senior leadership.

The discussion also incorporated the recent progressive fiscal measures taken by the Finance Minister and the K-P’s cabinet for understanding the immense potential of creating jobs in Pakistan. Despite facing major repercussions for over a decade, the most favourable regulatory for Careem was provided by K-P with the introduction of a subcategory of ride-hailing and a minimal tax rate of 2% on platforms share, giving exemptions to Captains and all the while, attracting further investment in the province.

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“Technology is playing a key role in the creation of economic opportunity in Pakistan. Careem is passionately committed to bringing innovative technology solutions to the country and creating income opportunities through the shared economy,” commented Sheikha, Co-Founder and CEO of Careem according to the press release.

The ride-hailing giant is also working on a project in collaboration with the Government of K-P to bring rescue 1122 ambulance service in Peshawar with the help of Careem to improve ambulance response time in the city.

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