Trucking startup Trella has decided to exit its operations in Pakistan, leaving an economy facing ongoing crises that made business “unsustainable”.
The startup, which entered Pakistan in 2020, will retain some staff to assist its operations in Egypt, United Arab Emirates (UAE) and Saudi Arabia.
The Egypt-based company stopped taking new orders last month, Bloomberg reported. Recent macroeconomic turmoil made Trella’s business unsustainable.
Recently, Vitol-backed VavaCars has exited Pakistan, Dubai-based Swvl Holdings paused daily rides, Uber’s Careem suspended food delivery and Airlift, which raised a record $85 million, folded.
The Overseas Investors Chamber of Commerce and Industry (OICCI) has reported that half of its surveyed members are considering winding up or shrinking operations in Pakistan due to restrictions on the repatriation of profit and dividends, as well as a ban on the import of raw materials.