KARACHI: Dispelling rumors that it was taking measures to do away with ride-hailing giants Uber and Careem, the Sindh government on Tuesday warned the two of strict legal action if they failed to register with the concerned authorities within 10 days.
“We have only asked them to get registered with the transport department of province under the law, but they are not complying and misinterpreting that we are closing down services,” Awais Qadir Shah, Transport Minister of Sindh, told Arab News.
“We have asked them to get registered with the department within 10 days and if they fail to comply with the directions, strict legal action will be taken against them,” he added.
The provincial government said it was taking steps to register ride-hailing service providers following an incident wherein a girl jumped out of a moving cab — which she had booked by using a ride-hailing services’ app — after accusing the driver of harassment.
The driver has denied the allegations. He was arrested by the area police and produced in court, but was later released on bail.
“Different incidents are taking place in the province. The government does not have the information about the legality of the vehicles and the drivers. At least this information must be available to the provincial government so that appropriate steps are taken in case of any mishap,” the provincial minister said.
The move to register ride-hailing companies is not the first initiative of its kind. Last year, a similar decision was taken by the then transport minister who had called for banning the services in case they failed to register with the department. He had to withdraw his plans following stiff resistance from the masses.
Following reports in the local media that the government was looking to ban Careem and Uber in the Sindh province, Careem’s management responded on Tuesday by saying that it was business as usual for the company.
“Careem’s services are running as normal across Pakistan, providing our customers with safe, affordable and comfortable rides. Careem is committed to helping create 1 million jobs in Pakistan by 31 Dec 2020. As a local company, we remain engaged with the respective governments of all provinces for the finalization of frameworks which will not only govern ride-hailing specifically but online marketplaces in general,” the statement said.
Soon after the report, the twitter brigade took to social media censuring the government’ decision in the background of the current state of public transport in the province.
“Strongly condemn Sindh Government’s decision to shut down Uber and Careem in Sindh. For a province without Public Transport, it is a facility for millions of people and full-time job for thousands. Sindh Government has no right to snatch it!”, Shafaat Ali, an actor, tweeted.
Huzefa, a political worker, responded to Ali’s tweet saying: “It is requirement in every country that ride-sharing companies obtain permits from the local government. How can government regulate these companies? In case of any mishap, will the company be responsible or government?”
Under Pakistan’s laws, vehicles registered for non-commercial purposes cannot be used for commercial reasons.
Clock ticking for Uber, Careem to get registered
Clock ticking for Uber, Careem to get registered
- Move aimed at regularizing ride-hailing services, transport minister says
- Sindh government’s decision follows incident where a girl accused a taxi driver of harassment
Pakistan stocks hit new all-time high as IMF clears $1.32 billion disbursement
- Benchmark KSE-100 closes at record 169,456 after gaining 1,153 points amid strong buying
- IMF said its executive board approved Pakistan’s latest loan review on Monday, unlocking about $1.2 billion
ISLAMABAD: Pakistan’s equity market surged to an all-time high on Tuesday, with the benchmark KSE-100 index closing at 169,456, up 1,153 points (0.69 percent), as investor sentiment strengthened following the IMF’s approval of fresh disbursements under its existing loan program.
Traders attributed the record close to renewed risk appetite, driven by strong local institutional buying and confidence in the macro-economic outlook after the IMF said its executive board approved Pakistan’s latest loan review on Monday, unlocking about $1.2 billion and keeping the country’s IMF program on track. The surge extended a bullish trend that has carried the index upward through the final quarter of 2025.
In a session summary, Topline Securities said market momentum remained firmly on the upside.
“The bulls commanded today’s trading session with remarkable strength, lifting the benchmark index to breathtaking new heights,” it said. “After soaring to an intraday high of 1,297 points, the market closed at a record-breaking 169,456, gaining 1,153 points or 0.69 percent.”
Trading activity remained strong, with total volumes reaching 1.02 billion shares, while turnover rose to Rs 51.1 billion. K-Electric (KEL) led the volume chart with approximately 86.7 million shares traded, while heavyweights including Fauji Fertilizer (FFC), Lucky Cement (LUCK), Habib Bank Ltd. (HBL), Pakistan State Oil (PSO), and Maple Leaf Cement (MLCF) collectively contributed around 640 points to the index’s gain.
Analysts said improving liquidity, optimism over external financing and active participation from local mutual funds supported the rally.
Market participants will now watch for macro data releases, fiscal performance indicators and further external funding commitments to assess whether the rally can sustain in the coming weeks.
