Pakistan News International

Business & Economy

SBP, PBoC sign MoU on RMB clearing arrangements

Posted on by News Desk

KARACHI, Nov 02 (APP):State Bank of Pakistan (SBP) and Peoples Bank of China (PBoC) have signed an memorandum of understanding (MoU) on establishing RMB (Chinese currency) clearing arrangements in Pakistan. The MoU was signed by SBP Governor Jameel Ahmad and PBoC Governor Yi Gang, said […]

IESCO board of governors re-organizes

Posted on by Tuba Zafar

ISLAMABAD 02 Nov (Online): Islamabad Electric Supply Company (IESC) Board of Governors has been re-organized. Energy ministry issued notification in this regard after the approval of cabinet on Wednesday. Engineer Qamar-Ul-Islam is the new chairman of the board of directors of IESCO. Major (R) Tahir […]

Railways retrieved 955 acres land to earn revenue

Posted on by Tuba Zafar

ISLAMABAD, Nov 2 (APP): Pakistan Railways has retrieved as many as 955 acres of its land worth Rs19, 603 million during various anti-encroachment operations across the country in the last five years. “Around 476 acres retrieved in Punjab, 133 acres in Khyber Pakhtunkhwa, 327 acres […]

Stalled development projects being revived: Dastgir

Posted on by News Desk

FAISALABAD – October 31 (ONLINE) Federal Minister for Power Khurram Dastgir Khan said Monday the incumbent government was reviving all development projects, put in cold store during the last four years. Addressing the inaugural ceremony of 220-KV Lalian grid station in Faisalabad on Monday, Dastgir […]

FPCCI for overhauling power sector

Posted on by News Desk

ISLAMABAD – October 30 (ONLINE) Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) Businessmen Panel (BMP) on Sunday stressed the need for overhauling the power sector, through some drastic measures as the total cost of inefficiencies in the power sector is estimated at a […]

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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