The multi-national ride-hailing service, Swvl, has decided to pause inter-city rides due to the global economic recession starting June 3rd, 2022. The company has announced the news through a notification for their mobile app users.
Swvl’s inter-city rides, officially named Swvl Daily, provides users with the facility to travel inside the cities of Karachi, Islamabad, Lahore and Faisalabad. The other two services provided by the company called Swvl Travel meant for city-to-city rides and Swvl Business meant for B2B rides will continue to operate as usual.
This news has made the users of Swvl uncomfortable as they will have to look for alternatives for their daily commute but it’s definitely not unexpected after Swvl announced its cost-cutting strategy just three days ago. We have also seen the news about shutting down services and layoffs from other Pakistani startups like Airlift and Truckitin in the previous days.
The official notification from the ride-hailing service reads:
Is the Pakistani startup industry facing a downturn again as a result of the global economic recession or are we going to see some good news like we did in 2021? What are your thoughts?