Alibaba co-founder Jack Ma's confidential trip to Pakistan raises questions

Jack Ma, the Chinese billionaire and co-founder of Alibaba Group, recently made an unexpected trip to Pakistan, sparking speculation as he avoided interactions with government officials and the media.

According to a report by Express Tribune, Jack Ma arrived in Lahore on June 29 and remained in the city for a duration of 23 hours.

Muhammad Azfar Ahsan, the former Chairman of the Board of Investment (BOI), stated that Ma's visit was kept confidential, and there are hopes for positive outcomes for Pakistan in the near future.

Accompanying Jack Ma were seven businessmen, including five Chinese nationals, one Danish individual, and one US citizen, forming a delegation during the visit.

While there has been speculation about potential business opportunities being explored by Jack Ma and his team in financially strained Pakistan, an official confirmation is yet to be provided.

It is noteworthy that Jack Ma no longer holds control over Ant Group, the Chinese fintech giant, as adjustments were made by the firm's shareholders earlier this year.

The iconic Alibaba founder disappeared from the public view in 2020 after he criticised the Chinese government in a speech by calling upon the regulators and state-owned banks as having a ‘pawnshop mentality’ when it came to technology.

While taking a dig at the Chinese government indirectly, Ma also said that his “success is not up to him”.

After the speech, a crackdown on Ma and his companies by the Chinese authorities followed and Alibaba founder disappeared from the public view. This also led to a lot speculation and concern related to his health, well-being and life in general.

However, he was spotted several times outside the Chinese Mainland following the speculations, usually in Tokyo’s private clubs, Thailand and a few other places.

Earlier this year, Ma returned to China in March, but as a teacher, not a businessman.

Also Watch | World’s largest cruise ship, Icon of the Seas, with on-board water park, to launch in January 2024; All you need to know about Wonder of the Seas and other large cruise ships

Also Watch | SGX Nifty now GIFT Nifty; timings, how to check data, other details you need to know