Careem will suspend its ride-hailing services in Pakistan on July 18, 2025, a decision announced by CEO Mudassir Sheikha on June 18, 2025. Sheikha cited challenging macroeconomic realities, intensifying competition, and global capital allocation as the reasons, stating they made it difficult to justify the investment needed for a safe and dependable service. However, Careem's technology operations will continue in Pakistan through its spin-off, Careem Technologies.
Key Details
Background
Careem launched its ride-hailing services in Pakistan in 2016 and grew to become a dominant player in the market. However, the move reflects a broader trend of tech firms scaling back in Pakistan's digital economy due to high inflation, weak consumer demand, and tight global capital.
