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Business & Economy

Ban on auto parts import affecting all sectors of economy

Posted on by Tuba Zafar

Lahore, May 06 (Online): The Pakistan Industrial and Traders Associations Front (PIAF) Chairman FahimurRahmanSehgal along with FPCCI President Irfan Iqbal Sheikh, PIAF SVC Nasrullah Mughal, VC Tahir Manzoor Chaudhary and other EC members visited the office of the Pakistan Automobile Spare Parts Importers and Dealers […]

Smuggling goods worth Rs 754 mln seized in 4 days

Posted on by News Desk

ISLAMABAD, May 04 (APP):Anti-smuggling teams of Directorate Customs Intelligence and Investigation, working under the Federal Board of Revenue (FBR), have seized illegal movement of different goods worth Rs 754 million during the last four days of the current week. Acknowledging the good performance, FBR Chairman […]

PARCO to establish two trauma centers in Sindh

Posted on by Tuba Zafar

SUKKUR, May 04 (APP): Pak Arab Refinery Company (PARCO) has planned to establish two trauma centres in Shikarpur and Sehwan under Corporate Social Responsibility. The PARCO is going to establish a trauma center at Bubak town near Sehwan and another trauma center at Shikarpur to […]

Uncertainty is due to absence of IMF program: Ahsen Iqbal

Posted on by Tuba Zafar

ISLAMABAD 04 May (Online): Federal minister of development and planning Ahsen Iqbal said uncertainty increased due to absence of International Monitory Fund (IMF) program. In his address on the occasion of issuing the report of World Bank’s human capital review research Ahsen Iqbal as chief […]

President ADB reaffirms support to Pakistan

Posted on by News Desk

Islamabad, May 3 (Online): Masatsugu Asakawa, President, Asian Development Bank (ADB), in his meeting with the Pakistan delegation led by Dr. Kazim Niaz, Secretary, Economic Affairs Division (EAD), reaffirmed ADB’s continued support to Pakistan. The meeting took place on the sidelines of the 56th Annual […]

Airbus net profit plunges as deliveries drop

Posted on by News Desk

Paris, May 3 (AFP/APP): European aircraft manufacturer Airbus said Wednesday its revenues and net profit fell during the first quarter of the year as deliveries dropped amid continuing supply chain difficulties. The company delivered 127 aircraft in the first three months of this year, down […]

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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