Pakistan News International

Business & Economy

New budget to bring economic prosperity for all sectors: Dar

ISLAMABAD, May 22 (APP): Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Monday said that the government was committed to ensuring that the new budget brings economic prosperity for all sectors of the economy and that resources were equitably distributed among various […]

Currency rates of NBP

KARACHI, May 19 (APP): Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP) on Friday. CURRENCY SELLING BUYING USD 288.96 282.74 GBP 358.34 350.60 EUR 311.15 305.01 JPY 2.0874 2.0425 SAR 77.15 75.30 AED 78.72 77.51 […]

Kerb currency market

KARACHI, May 19 (APP): Following were the Closing Rates of foreign currencies in kerb market issued by the Forex Association of Pakistan (FAP), here on Friday. F.C. LOW RATE HIGH RATE INTER BANK (COMMERCIAL BANK) 285.45 286.20 U.S $ DOLLAR (FREE MARKET) 295.00 298.00 SAUDIA […]

Finance Ministry clarifies news regarding IMF agreement

ISLAMABAD, May 20 (APP): Ministry of Finance and Revenue on Saturday categorically rejected a news item published in a section of local press regarding the delay in the finalization of the agreement with the International Monetary Fund (IMF). In a press release, it said that […]

IRSA releases 159,300 cusecs water

ISLAMABAD, May 20 (APP): The Indus River System Authority (IRSA) on Saturday released 159,300 cusecs of water from various rim stations with an inflow of 150,800 cusecs. According to the data released by IRSA, the water level in River Indus at Tarbela Dam was 1426.04 […]

PM Shehbaz assures Govt’s full support to UAE investors

ISLAMABAD 19 May (Online): A United Arab Emirates delegation called on Prime Minister Shehbaz Sharif in Islamabad on Friday and expressed the desire to give further momentum to UAE’s investment in Pakistan. Chairman Abu Dhabi Ports Sheikh Ahmed Dalmook al Maktoum, who is also a […]

Quetta Chamber hails opening of border market with Iran

QUETTA, May 18 (APP): The Chamber of Commerce and Industry Quetta (CCIQ) on Thursday hailed the inauguration of Mand-Pishin border sustenance market along the Pak-Iran border. “It is an unprecedented step of the incumbent government. It will pave a way for fostering invincible economic growth […]

Royal Mail parent sinks into red on costly UK strikes

London, May 18 (AFP/APP): International Distributions Services (IDS), parent of British postal group Royal Mail, said Thursday it had sunk into an annual loss following mass strike action at the former state monopoly. IDS reported a loss after tax of £873 million ($1.1 billion) in […]

Pakistan, Iran to jointly open border market, power transmission line tomorrow

ISLAMABAD, May 17 (APP): Prime Minister (PM) Shehbaz Sharif and Iran’s President Seyed Ebrahim Raisi will jointly inaugurate the Mand-Pishin border sustenance marketplace and Polan-Gabd electricity transmission line at the Mand-Pishin border crossing point on Thursday. The Foreign Office in a statement on Wednesday said […]

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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