The Malik Riaz-funded digital news outlet Nukta has laid off 37 employees due to a severe financial crunch, less than a year after its launch.
In a statement, Nukta confirmed the layoffs as part of a “strategic restructuring” to ensure sustainability. The Dubai-based platform had recruited top journalists from across Pakistan but reportedly struggled with high operational costs and limited ad revenue.
Sources indicate that financial troubles linked to Malik Riaz’s broader business empire, including ongoing legal and asset issues, have strained the platform’s funding.
Federal Information Minister Attaullah Tarar announced that the government would support the laid-off journalists by helping them find new employment.
The move highlights the growing instability in Pakistan’s digital media industry, where several startups are battling revenue challenges and investor uncertainty.
