A Business Recorder Article.

Whether grappling with political turmoil, inflation, or exchange rate issues, Daniil Petin, Vice President of Mobility at inDrive (global), remains optimistic about Pakistan’s potential for sustainable growth.

Despite the country’s economic challenges and a bleak near-future outlook, inDrive views Pakistan as a strategic market with substantial untapped potential.

Moody’s Investors Service recently characterised Pakistan’s fiscal strength as “very weak,” citing elevated political risks that constrain its credit profile. This economic distress has led several companies to either shut down or scale back operations.

In an exclusive interview with Business Recorder during his recent visit to Pakistan, Petin acknowledged the economic difficulties but emphasized inDrive’s commitment to developing Pakistan as one of its core markets. Despite challenges faced by other companies, inDrive sees Pakistan as a significant opportunity.

“Pakistan is one of our big bets. For us, we see huge potential. If you look at the macro factors for Pakistan, everything is telling you that it’s going to be growing. Look at the population, which now is over 240 million,” Petin remarked.

“If you look at Pakistan’s GDP from a macro level, its 20% industry, 20% agriculture, and then 60% services.”

“Services are booming, e-commerce is booming and internet technologies are booming. And for us, it’s a good sign that it’s going to be developing further.”

Read the full Business Recorder Article.