Pakistan News International

Business & Economy

UAE increases petroleum prices for the third time in a row

ABU DHABI Sep 01 (Online): The increase in petrol prices has not only affected Pakistan but also the United Arab Emirates, the prices of petroleum products have been increased for the third consecutive month. According to Arab media, the fuel price committee of the United […]

First Ever Mineral Value-Addition JV Agreement between PMCL and BMRL

KARACHI: Platinum Mining Company has signed a monumental Joint Venture Agreement with Government of Balochistan to develop the country’s first mineral processing project at Balochistan Mineral Resource Limited (BMRL) office, Quetta. Ismail Suttar, President LCCI and represented Platinum Mining Company (Pvt) Ltd. in this mutual […]

PIA accounts frozen again

KARACHI Aug 31 (Online): Federal Board of Revenue has frozen 13 bank accounts of Pakistan International Airline (PIA) in Thursday. According to a media report, FIBR officials said that action was taken on non-payment of federal excise duty of Rs.8 billion. The bank account linked […]

Dollar gains power against rupee again

KARACHI Aug 31 (Online): The unbridled fall of the Pakistani currency continues and on Thursday, the dollar became more expensive by one rupee and 10 paise against the rupee in the interbank market. According to the Exchange Companies Association of Pakistan, the US dollar reached […]

Decline in rupee’s value, also decline foreign exchange reserves

KARACHI Aug 31 (Online): Along with the decline in the value of the rupee, there is also a decline in the foreign exchange reserves, and during a week, the government’s foreign exchange reserves decreased by another 8 million dollars. According to the data released by […]

Dr. Umar Saif unveils IT export plan of $10 Billion

KARACHI: Caretaker Federal Minister for IT and Telecommunication Dr. Umar Saif unveiled the roadmap to achieve the target of $10 billion in annual exports through four major dimensions on Thursday. Speaking as a chief guest at the 23rd ITCN Asia 2023 “Declaring Pakistan The Regional […]

OSH compliance crucial for exporters: Dr. Gohar Ejaz

KARACHI: Dr. Gohar Ejaz, Minister of Commerce, Production & Industry, stated that it is imperative that Pakistani exporters, especially textile related, must comply with all ILO International Labor Standards including Occupational Safety and Health Standards(OSH), in order to manifest their progressive march towards achieving the […]

PYMA appeals to PM for cut in power tariff

KARACHI: Sohail Nisar, Senior Vice Chairman, Pakistan Yarn Merchants Association (PYMA), has termed the recent increases in electricity rates as destructive for businesses and industries, has appealed to the Caretaker Prime Minister Anwaar-ul-Haq Kakar and Caretaker Minister for Energy, Power and Petroleum Muhammad Ali to […]

China warns US against ‘disastrous’ trade curbs

BEIJING Aug 30 (Online): China’s premier warned US officials on Tuesday that moves to “politicise” trade issues would prove “disastrous” for the global economy, state media reported. US Commerce Secretary Gina Raimondo is currently on a four-day bridge-building visit to China aimed at better managing […]

Pakistan’s most recent business news

The business environment in Pakistan is undergoing a quick expansion and alteration, with several industries seeing notable advancements and fresh prospects. In this article, we’ll examine the most recent business news from Pakistan, emphasizing important industries, cutting-edge developments, and remarkable accomplishments to give you a full picture of the vibrant business scene there.

Boom in Technology and E-Commerce: Pakistan’s technology and e-commerce industries have seen tremendous development in recent years, which has helped the nation’s economy. Online sales and other digital transactions have expanded dramatically as a result of the more widespread availability of inexpensive smartphones and enhanced internet access. The emergence of e-commerce behemoths like Daraz, Foodpanda, and the Daraz supported by Alibaba has revolutionized consumer shopping and opened up new opportunities for entrepreneurs and small companies.

Investments in Renewable Energy: Pakistan has acknowledged the value of using renewable energy sources to alleviate the country’s energy issue and lessen its dependency on fossil fuels. The government’s initiatives to entice capital into the renewable energy industry have been successful. Major initiatives, such the construction of wind and solar power facilities, have created possibilities for both domestic and international investors while increasing the availability of sustainable energy.

Infrastructure Development: As a result of the government’s emphasis on development projects, the construction and infrastructure industries have seen a considerable uptick. The China-Pakistan Economic Corridor (CPEC) has been instrumental in improving infrastructure and communication across the nation. Construction of motorways, airports, and special economic zones are ongoing initiatives that have boosted jobs and the economy.

Start-up Culture and entrepreneurship: A increasing number of entrepreneurs and innovators are starting businesses in Pakistan, which has a thriving start-up environment. The creation of technological parks and incubation facilities, among other government measures, has given start-ups a supportive atmosphere. Startup success stories like Careem and Bykea have motivated prospective business owners and drawn domestic and foreign capital, promoting innovation and economic expansion.

Financial Inclusion and Digital Banking: With the introduction of financial inclusion and digital banking programs, Pakistan’s financial industry has seen a shift. Financial services are now more easily available to the unbanked population thanks to mobile banking applications and electronic payment methods, which has helped to promote financial inclusion. Consumers now have access to cutting-edge goods and services thanks to partnerships between conventional banks and fintech businesses.

Export Potential and Global Trade: Pakistan’s export potential is growing as a number of industries earn international acclaim. Particularly, the textile and garment sector continues to play a significant role in the nation’s export earnings. Aside from that, efforts are being made to diversify exports into other industries including IT services, medicines, and agricultural goods. Access to overseas markets has been made possible for Pakistani enterprises thanks to international trade agreements and participation in trade shows.

Due to infrastructural improvements, technology breakthroughs, and a strong start-up culture, Pakistan’s economic environment is changing quickly. The nation is seeing good developments that support economic growth and employment creation, from the e-commerce boom to investments in renewable energy. With an emphasis on entrepreneurship, innovation, and financial inclusion, Pakistan is well-positioned to develop into a thriving center for trade and investment. Keep up with the most recent business news as you investigate the many options that are appearing in this changing climate.

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