Careem will suspend its ride-hailing service operations in Pakistan from July after nearly a decade in the industry, its CEO announced on Wednesday, adding that its journey in the country would continue “in a different role”. Mudassir Sheikha, Careem’s CEO and co-founder, shared a post on LinkedIn announcing “a new chapter” for the company. “It is with a heavy heart that I share this update: Careem will suspend its ride-hailing service in Pakistan on July 18,” Sheikha said, adding that it was “an incredibly difficult decision.” “The challenging macroeconomic reality, intensifying competition, and global capital allocation made it hard to justify the investment levels required to deliver a safe and dependable service in the country. “In the end, the Careem Rides team had to make this tough call,” he said. He called the ride suspension “the end of an iconic chapter — one built with purpose, grit and a ton of relentless hustle”. Sheikha highlighted some of Careem’s notable achievements while operating in Pakista...