Pakistan News International

Business & Economy

Pakistan, UAE agree to further deepen mutual cooperation in all fields

ISLAMABAD, Nov 05 (Online): Pakistan and the UAE have agreed to further deepen mutual cooperation in all fields including economy, trade, energy and investment. The understanding was reached at a meeting between Foreign Minister Bilawal Bhutto Zardari and UAE’s Foreign Minister Sheikh Abdullah Bin Zayed […]

US sees strong job gains in October as wages move higher

Washington, Nov 4 (AFP/APP):US job gains topped expectations in October, official data showed Friday, as hiring remained resilient and wages moved ever higher even as unemployment edged up, underscoring the challenges in lowering rampant inflation. The data comes days ahead of midterm elections, where decades-high […]

Bank of AJK’s remittances crossed record high of Rs 3.5b: CEO

MUZAFFARABAD, Nov 04 (APP):Khawar Saeed, President and Chief Executive Officer Bank of Azad Jammu and Kashmir while chairing a review meeting here on Friday, said that the home remittances of Bank of AJK crossed the highest level of increase 3.5 billion rupees, which was a […]

ECC allows to increase petroleum levy from Rs 30 upto Rs 50/Liter

ISLAMABAD, Nov 4 (APP):The Economic Coordination Committee (ECC) after deliberation allowed to increase petroleum levy from Rs 30 up to Rs. 50/Liter on RON 95 and above with effect from 16th November, 2022, which is a luxury good being consumed by wealthy consumers in expensive […]

U.S. provides seed funding to women entrepreneurs for growing business

ISLAMABAD, Nov 3 (APP): The United States (U.S.) has provided seed funding to women entrepreneurs to grow their businesses in Pakistan. According to a statement issued by the U.S. Embassy in Pakistan on Thursday, more than 30 participants from the second Academy for Women Entrepreneurs […]

China to set up 29 more import promotion demonstration zones

BEIJING, Nov. 3 (Xinhua/APP): China will establish 29 more demonstration zones to promote imports, the Ministry of Commerce said on its website. Eight authorities including the National Development and Reform Commission, the Ministry of Finance, and the People’s Bank of China decided to set up […]

Board of Revenue Sindh signs SLA for issuance of e-Stamps from Sindh Bank

KARACHI, Nov 02 (APP):A tripartite Service Level Agreement (SLA) was signed between Board of Revenue Sindh, Sindh Bank Limited and Punjab Information Technology Board (PITB) for issuance of e-Stamps from Sindh Bank Limited to further facilitate people of the province in obtaining e-Stamps at their […]

SBP, PBoC sign MoU on RMB clearing arrangements

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

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 […]

DISCOs seek increase in power tariff by Rs 2 per unit

ISLAMABAD, NOV 02 (Online): The Power Distribution Companies (DISCOs) have filed application in National Electric Power Regulatory Authority (NEPRA) seeking increase in power tariff by Rs 2 per unit. NEPRA will hear the petition of DISCOs on November 15. An additional burden of more than […]

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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