Popular bus-sharing service Swvl announced on Thursday that it would be “pausing” daily rides within Karachi, Lahore, Islamabad and Faisalabad from Friday (June 3) “in light of the global economic downturn”. The announcement comes as the government has increased the prices of petroleum products by Rs30 per litre in a move aimed at placating the International Monetary Fund (IMF) for an economic bailout.
In less than a year of its launch in Pakistan, bus-hailing service Swvl has increased its base fare by up to tenfold. Without an announcement, the Egyptian company has increased the fare of a 30-kilometer ride from Rs. 50 to Rs. 200. The company is running a Rs. 100 promo, which gives the impression that the prices have only been doubled.
Dubai based ride hailing service Swvl recently announced its plans to collaborate with the Sindh government to set up mass transit systems within the province, starting with Karachi, the company said in a statement. The company said Swvl and Sindh government have explored multiple avenues to improve the transportation landscape of Sindh, and will be entering into a public-private partnership to provide high quality, cutting-edge mass transit solutions.