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Huge setback to Q-commerce in Pakistan; Airlift shuts down due to global recession

Zain Aijaz by Zain Aijaz
July 13, 2022
in Latest News, National, News, Tech, Top News
Reading Time: 1 min read
Huge setback to Q-commerce in Pakistan; Airlift shuts down due to global recession

The tech startup ecosystem in Pakistan woke up to an extremely disappointing news. One of the most celebrated and noteworthy q-commerce startups, Airlift, has decided to end its operation in the country. The announcement has left the entrepreneurship fraternity in shock.

According to a press release by Airlift, the company handled the financial situation during Covid-19, but the global recession and downturn in the capital market had a severe impact on the company. The ride-haling and grocery delivery startup thanked the team, vendors, partners, and suppliers for their cooperation.

Thousands of young and competent employees of Airlift have become jobless. All ex-employees have bombarded LinkedIn with posts asking for jobs. Some employees were the sole breadwinners of their families.

The shutdown has put a question mark on several tech startups, whether they would survive or if a new wave of unemployment will take over Pakistan.

Zain Aijaz

Zain Aijaz

Zain is a media student and a writer by passion. He is a certified creative writer from Wesleyan University and enthusiastically writes on non-fiction and political satire. He is vastly experienced in the field of theatre and has served as a theatre mentor across different institutions. Currently, he is a contributor at The Upcut and can be reached at zainaijazdehlvi@gmail.com

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