Pakistan News International

Business & Economy

Egypt introduces tax, fee hikes to boost gov’t revenues

CAIRO, May 29 (Xinhua/APP): The Egyptian parliament approved on Sunday new tax and fee hikes on a number of imported goods and entertainment activities to boost government revenues amid strained public finance. The parliament approved amendments to three laws that will impose an additional one-percent […]

USAID-ERDA provides seed support to 2,800 farmers in Orakzai

PESHAWAR, May 29 (APP): USAID-ERDA provided certified maize, sunflower, and red bean seeds to 2,800 farmers in District Orakzai on Monday, with the aim of improving food security in the region. The beneficiaries include 20 percent women and the under-served population. The programme has distributed […]

China-Pak infrastructure construction leading to fruitful achievements

BEIJING, May 29 (APP): Pakistan and China have always maintained the closest and strongest friendship, which is not only dependent on security affairs, but also reflects the increasingly close economic cooperation. It was already clear at the time of the construction of the Silk Road […]

Unprecedented Network Harnesses Expertise for Lasting Policy Reforms

Islamabad, May 28 (Online): In a groundbreaking move towards inclusive governance, the Ministry of Planning Development & Special Initiatives has established the Champions of Reforms (CoR) network. This innovative initiative brings together hundreds of professionals from diverse backgrounds to contribute their expertise towards concrete, long-lasting […]

1st Int’l Conference on ICM being held in Islamabad from tomorrow

Lahore, May 28 (Online): The First International Conference on Islamic Capital Market is being held in Islamabad from Monday. This Conference will help Pakistan in implementing the Federal Shariat Court’s judgement to make our financial system Riba free. Chairman Securities and Exchange Commission of Pakistan […]

Govt engages to provide relief to marginalize class: Dar

ISLAMABAD, May 28 (APP): Federal Minister for Finance Senator Ishaq Dar on Sunday said the budget preparation was in the final stage to present a relief-oriented and business-friendly budget in order to avoid further burdening the poor. Talking to a private news channel, he said […]

Govt releases Rs 25,889 mln for railways division in ten months

ISLAMABAD, May 28 (APP): The government has so far released Rs 25,889.66 million in funds, under the Public Sector Development Programme (PSDP) 2022-23, against a total allocation of around Rs 31,808.91 million to execute 36 different projects of railways division. Out of the total authorization/disbursement […]

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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