According to the company’s annual report 2020, which was submitted to the Pakistan Stock Exchange (PSX) this week, WorldCall Telecom Limited, a Pakistani telecommunication and multimedia service provider, plans to establish a ride-hailing service similar to Uber and Careem early next year.
Initial market research has been completed, according to the company, and its feasibility study shows promising results.
The news comes as WorldCall tries to overhaul its business strategy and operations after years of being in the fibre networking and telecommunications market.
It also announced the debut of a ‘Doc on Call’ platform for residential consumers, with intentions to expand the service to additional areas in the future.
“To reap the benefits of alternate revenue streams and diversification in conglomerate ventures, the Doc on Call platform has been launched targeting residential customers to avail medical advice/professional visit free of cost with incurrence of expense only upon subscription of medicines,” the company stated.
“So far, the response has been positive enough to expand the services to other parts of the city’s metropolitan districts.”
Ride Hail is a similar initiative to Uber/Careem, with preliminary market research completed, feasibility study promising outcomes, and increased driver/rider security maintaining the major goal.
“An Android/IOS-based application is in the works, and we plan to deploy this service early next year.”
WorldCall Telecom recorded a loss of Rs146 million in its annual report for the year ending December 31, 2020, compared to a net profit of Rs72 million in the previous year. Lower revenue and other revenues are to blame for the drop.