Pakistan News International

Business & Economy

SDPI, ZTBL sign MoU

ISLAMABAD, April 29, 2023 (Online):- A Memorandum of Understanding was signed between Zarai Taraqiati Bank Limited (ZTBL) and Sustainable Development Policy Institute (SDPI) to collaborate for the promotion and adoption of latest/novel technologies, practices, and techniques for improving agricultural productivity and livelihood of rural communities. […]

Government working on a new energy policy, Dr Musadik Malik

Islamabad: April 28 (ONLINE): Minister of State for Petroleum Dr Musadik Malik on Friday said that Prime Minister Shehbaz Sharif had announced to establish a refinery that would cost between $10 to $14 billion. Speaking at a news conference, the minister stated that the government […]

CEO Etisalat calls on Finance Minister

Islamabad : April 28 (ONLINE): Abdul Rehman Al Raheem Al Nooryani, CEO Etisalat International Pakistan called on Federal Minister for Finance and revenue Senator Mohammad Ishaq Dar, today. SAPM on Revenue Mr. Tariq Mehmood Pasha, Special Secretary Finance and Senior officers from Finance Division attended […]

IMF calls on European Central Bank to keep hiking rates to tame inflation

ANKARA, Apr 27 (AA/APP): The IMF on Friday called on European Central Bank (ECB) to keep hiking rates to tame persistently high inflation mainly driven by the Russia-Ukraine war. Europe faces the difficult task of sustaining the recovery, defeating inflation, and safeguarding financial stability, as […]

Ethiopia-Pakistan Business Forum to give major boost to bilateral trade: Envoy

ISLAMABAD, Apr 28 (APP): Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia (FDRE) to the Islamic Republic of Pakistan Jemal Beker Abdula on Friday said Ethiopia-Pakistan Business Forum in Karachi next month would provide an ample opportunity for boosting trade and commercial […]

ExxonMobil reports that Q1 profits double to $11.4 bn

New York, April 28 (AFP/APP): ExxonMobil reported Friday that first-quarter profits more than doubled to $11.4 billion, as the US oil giant returned over $8 billion to shareholders during the period. Oil prices were lower in the 2023 period, but earnings were boosted by a […]

Inauguration of Day Care Center at SNGPL Head Office

Lahore (PNI) Inauguration of Day Care Center at Sui Northern Gas Pipelines Limited (SNGPL) Head Office took place today (Friday). Addressing the Inaugural Ceremony, Chairperson Board of Directors Roohi Raees Khan said that the Board of Directors with the cooperation of the Company Management, has […]

Eurozone economy grows 0.1% in 1st quarter

ANKARA, Apr 28 (AA/APP): The euro area’s gross domestic product (GDP) increased by 0.1% in the first quarter of this year, missing the market’s forecast, according to a preliminary flash estimate on Friday. This figure still marked an increase from the stagnation of October-December last […]

Upcoming budget in accordance with IMF conditions

ISLAMABAD 27 April (Online): Next annual budget of 2023-24 will be designed in accordance with the conditions of International Monitory Fund. According to sources IMF will suggest budget targets and revenue targets. Finance ministry, Federal Board of Revenue (FBR) authorities will hold consultation with IMF. […]

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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