ISLAMABAD – Chinese Auto giant to make huge investment in Pakistanitransport sector.
According to a report by Arab News, Timesaco, a Chinese tech company, isgoing to invest more than $600 million (PKR 93 billion) in Pakistan’sdeteriorating public transport sector in hopes of transforming it bylooking to the Chinese model.
Asad Ullah, the company’s Media Manager while talking to the media said:
Our company is trying to restore and restructure Pakistan’s publictransportation system by replicating the Chinese model that will enable therelevant authorities to track the movement of vehicles and ensure theirpunctuality.
The company intends to invest $600 million and this amount will increasewith the scope of the business.
The company after introducing “Tatu Mobility”, a transportation system toboost the e-transport sector in the twin cities of Rawalpindi andIslamabad, they are aiming for Karachi.
Asad said, “In the second week of February, we will go to Karachi to meetwith officials of Sindh government, including the chief minister,” andadding that the service will be introduced at the end of February inKarachi.
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The firm offers a broad range of mobility services including taxi-hailingfacility, pick and drop, bus booking, and vehicle rental. They will be the 2nd foreign player in Karachi’s mass transportation sector after Egypt’sSWVL.
Tatu Mobility provides a transportation network based on IoT under whichall current private and public transportation networks will be refurbished,transformed and molded into IoT technology, he continued:
Negotiations with big Chinese companies have already been held, and manybig players have agreed to invest in Pakistan.
A plan is being considered where people will get yellow cabs andtraditional taxi services with the involvement of government and banks. Inthe longer run, they may get convinced to start manufacturing in Pakistan.Our aim is also to bring such players into the Pakistani market.
