Chinese firm to invest $20m in cab, cargo services

Published July 25, 2019
Chinese company Timesaco intends to provide a rapid services platform to citizens by launching five special services. — APP/File
Chinese company Timesaco intends to provide a rapid services platform to citizens by launching five special services. — APP/File

ISLAMABAD: A Chinese firm is working on comprehensive business plan to provide five important services in Pakistan, initially investing $20 million, with future prospects of $600m.

Chinese company Timesaco intends to provide a rapid services platform to citizens by launching five special services including a taxi service, heavy cargo delivery , orders delivery, moving automated teller machines (ATM) and vehicle advertisement facilities, Chief Operating Officer Time­saco, Donald Li said on Wednesday.

Initially these instant services would be launched in the six major cities including Karachi, Lahore, Faisalabad, Islamabad, Rawalpindi and Peshawar and would be extended to other urban centers, he added.

Mr Li said Timesaco had already held its pre-launch event in Islamabad a week ago and introduced instant services including Buraq (taxi service), Fema (instant delivery) and Cargo+ (city freight).

He said that modern technology and innovative methods of E-commerce would be utilised in delivering these services. For Timesaco services, customers should download application from Google Play Store for instant services in all five major areas, he explained.

Mr Li said that people interested in working with the taxi services could register their vehicles with the company without any precondition. Buraq drivers will get 97 per cent share of their earring and company will get only 2pc from drivers while 1pc would be invested in Drivers Club for providing health and education services to families of drivers.

He said people could register their bikes, cars, rickshaws, pickups, Qingqi loaders, and trucks with the company and get multiple ways for earning.

Published in Dawn, July 25th, 2019

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