Pakistan News International

Business & Economy

Pak-Sino collaboration in PV sector sustainable development goals

BEIJING, June. 2 (APP): China’s leading solar solutions provider LONGi officially released the sixth annual corporate sustainability report for 2022 in Beijing, providing an elaborate summary of its practices and achievements in the field of environment, society and governance (ESG) in the past year. Pakistan, […]

Plantation plays pivotal role in economic growth of any country

LAHORE, Jun 02 (APP): Tree plantation played a critical role in achieving the Sustainable Development Goals (SDGs) and has a direct link with the economic growth-engine of any country for development. Deforestation was directly associated with eco-degradation which was one of the largest threats that […]

Vietnam’s economy has yet to bottom out: HSBC

HANOI, June 2 (Xinhua/APP):Vietnam’s economy has yet to bottom out despite a series of stimulus measures to bolster business confidence, Vietnam News reported on Friday. Vietnam’s exports in May extended the decline by a further 5.86 percent from a year ago, though at a slower […]

Truck carrying seafood from Pakistan arrives in Xinjiang, China

BEIJING, June 2 (APP):A truck loaded with cold chain containers from Pakistan has arrived at Kashgar city in Northeast China’s Xinjiang Uygur Autonomous Region via a cross border land route. This is the first time that seafood containers from Pakistan have been transported by road […]

Annual inflation in May reaches record level of 37.97pc

ISLAMABAD 01 June (Online): Pakistan’s annual inflation rose to 37.97 per cent year-on-year in May, the statistics bureau said on Thursday, showing a continued uptick in the highest ever inflation in the country. The reading is also higher than the finance ministry’s projection of 34-36pc […]

FBR misses revenues collection target for FY23 by 6.47 pc

ISLAMABAD 01 May (Online): The Federal Board of Revenue (FBR) missed its collection target by Rs430 billion or 6.47pc to Rs6.21 trillion for the first 11 months of the fiscal year 2023 (11MFY23) against the target of Rs6.64tr, leaving behind a huge shortfall to plug […]

Rupee recovers sharply in open-market trade against USD

KARACHI 01 June (Online): Pakistani currency made a remarkable recovery of almost 5.5%, or Rs16, in a single day to a one-week high at Rs295 against the US dollar in the open market at around midday on Thursday. The currency had closed at Rs311 against […]

QatarEnergy signs 15-year gas deal with Bangladesh firm

Doha, June 1 (AFP/APP):QatarEnergy signed a 15-year deal on Thursday to supply liquefied natural gas to Bangladesh’s state-owned gas company Petrobangla. The state-owned hydrocarbon giant will supply 1.5 million tonnes annually starting in January 2026, the Qatari firm said at the signing ceremony in Doha. […]

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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