“Venture Capital Association Exposes Sinister Plot Behind Internet Suspension Amidst Chilling Negative Investor Perception.”

The Venture Capital Association of Pakistan (VCAP) has expressed its concern over the indefinite suspension of mobile broadband service and social media platforms like Twitter, Facebook and YouTube across Pakistan. The suspension has had an immediate and adverse impact on Pakistan’s startups, which rely on these platforms for new user acquisition and growth. VCAP has urged authorities to address the issue at the earliest as it has greatly impacted Pakistani citizens who use these digital solutions for financial services, mobility, food, commerce and more. The government suspended mobile broadband after protests erupted throughout the nation following Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s arrest. Pakistani startups raised over $700 million in funding from 2021-22. However, in the current year, Pakistan’s political and economic instability has contributed to a slowdown in international investor activity, and startups have only raised $25 million in funding so far. VCAP has stated that the government’s latest “platform restrictions and mobile broadband suspension will only add to these negative investor perceptions, and will dramatically impact Pakistani startups’ ability to raise capital, grow their businesses, and create jobs.”

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