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Business & Economy

TCP allowed to import 0.3 mln tons urea

Posted on by News Desk

ISLAMABAD, Oct 28 (APP): The Economic Coordination Committee (ECC) of the cabinet here on Friday allowed the Trading Corporation of Pakistan (TCP) to proceed ahead with the lowest offer received from M/s Makhdoom Logistics Services @ US$ 520/MT for the import of 300,000 MT of […]

NEPRA Imposes a Fine of Rs. 10 Million on NTDC

Posted on by News Desk

Islamabad, Oct 27 (Online): NEPRA has imposed a fine of Rs. 10 Million on National Transmission & Despatch Company (NTDC) for its failure to satisfy the Authority in the matter of revision in minimum loading limit of Lalpir and Pakgen power plants. The minimum loading […]

FBR may extend date for filing returns: Nasir Iqbal

Posted on by News Desk

LAHORE, Oct 27 (APP): Federal Board of Revenue (FBR) may consider extending the date of filing of returns to facilitate business community. The tex commissioner can facilitate individual cases under specific reasons. The FBR has developed a strategy to lessen its physical interaction with business […]

Credit Suisse launches radical overhaul to stabilise bank

Posted on by News Desk

Zurich, Oct 27 (AFP/APP):Credit Suisse unveiled radical measures Thursday aimed at turning around the beleaguered bank following huge third quarter losses, including revamping its investment banking, slashing 9,000 jobs and a capital injection from the Saudi National Bank. Switzerland’s second-biggest bank launched a new strategy […]

NHC approves award of Sukkur- Hyderabad Motorway (M-6)

Posted on by News Desk

Islamabad, October 19, 2022 (Online): Federal Minister for Communications and Postal Services Mr. Asad Mahmood presided over the meeting of National Highway Council-Supreme body of National Highway Authority, held at Ministry of Communications here today, in which approval was granted to award the construction of […]

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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