Interview with Asif Malik, Trafco Tracking and TIC Trafco Insurance Company director and newly elected LCCI executive committee member:
Q: Congratulations on your election to the Lahore Chamber of Commerce and Industry (LCCI) Executive Committee. You are concerned about internet issues affecting businesses in Pakistan. Could you elaborate on the impact of these interruptions?
Asif Malik: Thank you. Yes, the unreliable internet speeds and frequent interruptions have had a considerable impact on business activities across the country. Many businesses, especially those in the tech, IT, and freelance sectors, a stable, high-speed internet connection is absolutely essential. The disruptions are slowing down productivity, reducing service reliability, and impacting our ability to vie effectively in the global market.
Q: You said the freelance industry is facing unprecedented losses. Can you explain how these internet issues are affecting freelancers?
Asif Malik: The freelance industry that relies entirely on internet connectivity, has been hit hard. Freelancers in Pakistan have lost countless opportunities because they’re unable to meet clients’ requirements due to connectivity issues. Many contracts have been canceled, resulting in substantial job losses, especially for our youth, who rely on freelancing as a vital source of income. Since the government announced plans to install a “fiber wall” to enhance digital security, there’s been no improvement in internet quality, yet it’s reportedly led to around $250 million in lost business revenue.
Q: That’s a considerable loss. Can you explain why such revenue is vital to the national economy?
Asif Malik: Yes, it’s crucial. With our forex reserves already low and economic challenges escalating, every dollar counts. The estimated $250 million that we’ve lost so far is essential to sustain our economy, especially since the freelance sector contributes greatly to foreign exchange earnings. This financial drain has weakened our reserves further and impacted the livelihoods of many.
Q: Do you feel these internet issues are specific to certain sectors or more widespread?
Asif Malik: It’s widespread, though IT and freelancing are more directly affected. In my own companies, which rely heavily on internet connectivity, business has become nearly impossible. Other industries too, including e-commerce, banking, and remote services, are feeling the pinch. This situation is sparking concerns about the broader health of Pakistan’s economy, as declining business activity across various sectors isn’t sustainable.
Q: What are your recommendations for resolving these issues?
Asif Malik: Urgent and coordinated action is needed to stabilize and enhance our internet infrastructure. Implementing the promised fiber installations with accountability would be a first step, along with regular monitoring to ensure quality standards. The government must prioritize high-speed internet as an economic imperative; otherwise, we’re going to see a continued decline in our business output and job opportunities for the youth.
Q: Thank you, Malik, for shedding light on this pressing issue.
Asif Malik: Thank you for the opportunity. This is an issue we can’t afford to overlook if we’re serious about reviving and sustaining economic growth in the country.
