KARACHI - the Special Technology Zones Authority announced on Wednesday that it opened applications for a national innovation fund, according to a statement released to reporters.
The broader picture is one of steady growth. Internet penetration now exceeds 27% of the population, and mobile broadband subscriptions have more than doubled since 2022.
Behind the scenes, the deal took nearly 20 months to negotiate, according to two people involved in the talks who asked not to be named because the discussions were private.
How the deal came together
Government officials welcomed the development. A spokesperson for the Special Technology Zones Authority said the initiative "aligns with the national digital agenda" and promised faster approvals for similar projects.
"This is the biggest shift we have seen in freelancing in a decade, and Pakistan is finally part of the conversation."
Ayesha Siddiqui, professor of computer science at Abhi
The service will initially be available in Gujranwala, Sialkot and Islamabad, with a nationwide launch planned for later in 2026.
How the deal came together
Employees will be offered training through a partnership with IBA Karachi, the company said, with a focus on cloud engineering, data analysis and product management.
Key points
- Pricing to remain unchanged until at least May
- Partnership with Aga Khan University to train local engineers
- Funding round values the company at about $250 million
- Roughly 150 jobs expected over the next two years
Analysts at Foodpanda Pakistan estimate that the addressable market could be worth $18 million by 2026, driven by a young population and rising smartphone ownership.
For consumers, the immediate impact is likely to be modest. Prices are expected to stay flat until at least September, and the new features will roll out gradually across the country.
Reporting by the WritePures newsroom. Have a tip? Contact our editors.
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