Pakistan News International

Business & Economy

PM Shehbaz vows to boost IT exports to $25b in two to three years

ISLAMABAD July 21 (Online): Prime Minister Muhammad Shehbaz Sharif says Pakistan has all the ingredients to increase its IT exports to the tune of 25 billion dollars in two to three years. In a tweet on Monday, he said the National Seminar on untapping the […]

Pakistan, US agree to further strengthen economic ties

ISLAMABAD July 18 (Online): Pakistan and the United States have reiterated the desire to further strengthen their bilateral trade and economic ties. The resolve was expressed during meeting of Deputy under Secretary of the US Department of Treasury Brent Neiman and US ambassador to Pakistan […]

FM Bilawal Bhutto lays foundation stone of Dhabeji Special Economic Zone

KARACHI, July 15 (Online): Foreign Minister Bilawal Bhutto Zardari laid the foundation stone of Dhabeji Special Economic Zone in Thatta district today. Speaking on the occasion, he said 150,000 employment opportunities will be created from this economic zone for the local people. Bilawal Bhutto said […]

JPMorgan Chase Q2 profits surge, says US economy faces risks

New York, July 14 (AFP/APP): JPMorgan Chase reported a jump in second-quarter profits Friday on surging income tied to higher interest rates as executives described the US economy as “resilient” but facing risks. Profits were $14.5 billion, up 67 percent from the year-ago period, while […]

Tokyo stocks end lower on weak exporter shares, strong yen

TOKYO, July 14 (Xinhua/APP) –: Tokyo stocks were slightly lower after the close on Friday, weighed down by export-related shares with the yen strengthening to a fresh two-month high against the U.S. dollar. The 225-issue Nikkei Stock Average inched down 28.07 points, or 0.09 percent, […]

Bangladesh reserves plunge as central bank acts on IMF guidelines

DHAKA, July 14 (Xinhua/APP) –: Bangladesh’s central bank has revealed a drastic drop of over 6 billion U.S. dollars in the country’s foreign exchange reserves. Bangladesh Bank (BB) in a website post on Thursday said, “The country’s reserves reached 23,567.53 million as of July 12, […]

Pakistan’s total foreign reserves rise above $ 9.83 billion

KARACHI, Jul 13 (APP):The total liquid foreign reserves of Pakistan rise to US$ 9,838.5 million as of July 07, 2023 while inflows of $ 4.2 billion were received from Saudi Arabia, UAE and IMF to be incorporated in the central bank’s reserves report in the […]

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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