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Business & Economy

FBR exceeds August tax collection target

Posted on by News Desk

ISLAMABAD, Aug 31 (APP): Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the month of August, 2022. According to the provisional information, FBR has collected net revenue of Rs. 489 billion during August 2022, which has exceeded the target of […]

Pakistan receives $1.16 bn from IMF

Posted on by News Desk

ISLAMABAD, Aug 31 (APP):Pakistan on Wednesday received $1.16 billion (equivalent of SDR 894 million) after the International Monetary Fund (IMF) Executive Board completed the combined seventh and Eight review under the Extended Fund Facility (EFF) for the country. The State Bank of Pakistan stated on […]

Govt increases petrol prices by Rs.2.07 per liter

Posted on by News Desk

ISLAMABAD, Sep 01 (APP):The government on Wednesday revised the prices of petroleum products, increasing the rates of petrol by Rs.2.07 per liter with effective from September 1st 2022. According to press statement issued by finance ministry, Petrol would now be sold at Rs.235.98 per liter […]

US announces Rs 6.65b for urgent flood relief efforts

Posted on by News Desk

Islamabad, August 30, 2022 (Online): United States announced Rs 6.65b for providing urgent flood relief. “The United States is deeply saddened by the devastation caused by flooding throughout Pakistan. Through @USAID, we will provide $30 million more in life-saving humanitarian assistance to those who have […]

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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