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Chinese company Timesaco to invest $20m in services sector

Chinese company Timesaco to invest $20m in services sector

ISLAMABAD: Chinese investors have worked out a comprehensive business plan to provide five important services to the citizens of Pakistan, initially investing $20 million, with future prospects of $600 million.

Timesaco, a Chinese company, intends to provide five special services in transportation, cargo, banking and advertising sectors, Timesaco Chief Operating Officer Donald Li told media in an exclusive interview on Wednesday.

“We will provide a ‘rapid service platform’ to the citizens by launching five special services, including taxi service, heavy cargo delivery service, orders’ delivery service, moving Automated Teller Machines (ATM) and vehicle advertisement facilities for the people of six major cities of Pakistan, namely Karachi, Lahore, Faisalabad, Peshawar, Rawalpindi and Islamabad,” he said. “The scope of the initiative would later be extended to other urban centres.”

Donald Li informed that Timesaco had already held its pre-launch event in Islamabad a week ago and introduced its taxi service “Buraq”, delivery service “Fema” and freight service “Cargo+”.

He said that modern technology and innovative methods of e-commerce would be utilised in delivering these services.

Replying to a question, he explained that the taxi service would offer a 10pc discount on rides to education institutions, health centres and marriage halls, adding that special discounts would also be provided to professionals, including teachers, army personnel and students. “For Timesaco services, customers could download its mobile application from Google Play Store.”

He said that people interested to work with Timesaco taxi services could register their vehicles with the company without any precondition.

“Buraq drivers will get 97pc share of their earnings; the company will get only 2pc from the drivers, while one per cent will be invested in Drivers’ Club so as to provide health and education services to the families of drivers,” he added.

The Timecaso chief further said that people could register their bikes, cars, rickshaws, pickups, Qingqi loaders and trucks with the company.

Replaying to question regarding the Corporate Social Responsibility (CSR) of the company, he said, “We have a plan to promote the health and education sectors of Pakistan. Like ‘Fobbes Magazines’, our company has planned to highlight the struggle of 100 successful people of Pakistan, those who progressed in a very difficult situation.”