KARACHI: Pakistani startups have received only $750 million in investment in 15 years, which is an indication of the challenges facing startups in the country.
One of the reasons for the difficulties faced by start-ups is that there is no clear and standard definition of start-ups in Pakistan, apart from this, Pakistan’s economic risk factor is also an obstacle for start-ups to get financing, otherwise Pakistan The failure rate of start-ups in India is the same as that found globally.
Speaking at the Pakistan Startup Summit 2024 organized by the Securities and Exchange Commission of Pakistan, Nadeem Hussain, founder of Telenor Microfinance Bank (EasyPaisa) said that the history of startups in Pakistan is only 15 years, in these 15 years startups Very few have been able to get financing.
He attributed this to Pakistan’s economic risk factor, global recession, global financial institutions’ lack of confidence in Pakistan. do
Federal Finance Minister Muhammad Aurangzeb said in his video statement that startups are game changers to speed up economic activities in the country, they will play an important role in the country’s economy in the long run, he urged the banks to support startups. Play your positive role in promotion.
He said that the government is clear about its role, which is limited to policy making, while in the economic sector, the private sector has to lead from the front. cannot provide capital to start-ups having .
