A small meal delivery service called Jovi revealed on Thursday that it is temporarily stopping service in the nation. The business announced in a press release that it is ceasing operations because of Pakistan’s ambiguous political and socio-economic situation, which is causing a choppy market and excessive prices.
However, the company said that it would be coming back soon with the latest and more innovative features.
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A press release confirmed Jovi shutting down its services
“We would further like to reassure you that any news on any social media platform regarding our permanent closure of services is not accurate. Our professional and technical teams are working day and night to enhance your experience for the coming future,” the statement said.
It is pertinent to mention here that recently Airlift, a leader in q-commerce in Pakistan, announced that it is shutting down operations in the country owing to its inability to raise new money.
The firm shut down its operations in second-tier cities like Faisalabad, Gujranwala, Sialkot, Hyderabad and Peshawar a couple of months back. It also sacked almost one-third of its employees to reduce the salary bill.
Back in June, Careem suspended its food service in Pakistan saying that “it will look to restart the service again in the future when the economic condition is more favorable in the country.”
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Dukan.pk, an e-commerce startup that lets anyone with a smartphone build a web store, has laid off about 25 per cent of its workforce as startups across the globe adopt austerity measures due to a drying up of VC funding.
According to initial reports, Dukan.pk had been shut down completely but CEO Monis Rahman confirmed to Profit that the startup was very much operational and about 25 per cent workforce had been laid off, as the startup focuses on achieving profitability and decreasing reliance on VC funding.