Pakistan News International

Business & Economy

Facebook owner Meta to lay off 11,000 staff

New York, Nov 9 (AFP/APP):Facebook owner Meta will lay off more than 11,000 of its staff in “the most difficult changes we’ve made in Meta’s history,” boss Mark Zuckerberg said on Wednesday. He said the cuts represented 13 percent of the social media titan’s workforce […]

France hands Essilor 81-mn-euro fine

Paris, Nov 8 (AFP/APP):France’s competition authority Tuesday slapped Lensmaker Essilor International and its parent company with 81.1 million euros ($81.6 million) in fines for a decade of discriminatory trade practices against online spectacles vendors. The authority said it was handing down the fine for practices […]

Farmers advised to adopt off-season cotton management strategy

FAISALABAD, Nov 08 (APP):Agriculture department has advised the growers to adopt off-season cotton management strategy to save next crop from the attack of Gulabi Sundi (pink bollworm). A spokesperson for agriculture (extension) department told APP on Tuesday that pink bollworm went in winter nap during […]

SC looking at legal issues instead of financial in Rekodiq case; CJP

ISLAMABAD, Nov 07 (APP):Chief Justice of Pakistan (CJP) Justice Umar Ata Bandial on Monday said that the Supreme Court was looking at legal issues, not financial ones, in the presidential reference regarding Reko Diq. A five-member larger bench of the apex court headed by Chief […]

Pakistan Pavilion unveiled in World Tourism Market in London

ISLAMABAD, Nov 07 (APP):Advisor to Prime Minister on Tourism and Sports – Awn Chaudhry on Monday inaugurated the Pakistan Pavilion at World Travel Market, London, 2022. Pakistan Tourism Development Corporation – PTDC along with provincial tourism departments and private sector stakeholders setup an impressive pavilion […]

Pharmaceutical Industry meets 95 percent of country’s needs

LAHORE – November 7 (ONLINE) Senior Vice Chairman of Pakistan Pharmaceutical Manufacturers Association (PPMA) Nadeem Zafar said Monday the industry currently meets 95% of the country’s medicine requirements, country only imports 5 percent medicine based on new molecules and compounds and new research-based products. The […]

CCP asks firms to refrain from deceptive marketing practices

ISLAMABAD, 5 NOVEMBER 2022: The Competition Commission of Pakistan (CCP) held a learning and awareness session with the members of Overseas Investors Chambers of Commerce & Industry (OICCI) hosted by one of its members, Unilever Pakistan. The purpose of the session was to sensitize OICCI […]

Dar chairs meeting on PM’s relief package

Islamabad, Nov 5 (Online) Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired a meeting on PM’s relief package through USC at Finance Division, today. Federal Minister for Industries and Production Makhdoom Syed Murtaza Mehmood, SAPM on Finance Tariq Bajwa, SAPM on Revenue […]

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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