Pakistan News International

Business & Economy

Schedule for approval of next year budget from NA changed

ISLAMABAD, JUJNE 23 (ONLINE): The government has started making amendments in Finance Bill-2022 in the light of tough conditions of IMF. The schedule for approving the budget for the financial year 2022-23 today has been changed. Sources told under the amendments in the finance bill, […]

Seminar on “State of Economy and Annual Budget” held

(Islamabad, 23 June, 2022) A seminar for members of Senate on “State of Economy and Annual Budget” Jointly organized by Senate of Pakistan and EU funded Project “Mustehkam Pakistan” was held today at Parliament House. Financial and Economic Experts briefed the Senators regarding distribution of […]

Miftah directs ministries to prepare proposals for targeted subsidy

ISLAMABAD, Jun 23 (APP): Minister for Finance and Revenue Miftah Ismail on Thursday directed the concerned ministries to work out on the proposals for targeted subsidy as per vision of the Prime Minister to support the lower strata of the society. The finance minister expressed […]

Assets of China’s banking, insurance sectors rise in past decade

BEIJING, June 23 (Xinhua/APP): The assets of China’s banking and insurance sectors have expanded remarkably over the past decade, official data showed Thursday. The total assets of the Chinese banking industry stood at 344.7 trillion yuan (51.37 trillion U.S. dollars) at the end of 2021, […]

Pakistan to attain extension in GSP+ status: Ahsan Iqbal

ISLAMABAD, Jun 22 (APP): Federal Minister for Planning and Reforms Ahsan Iqbal, on Wednesday, said the government was positively engaged with European Union Monitoring Mission expecting the extension of GSP+ (Generalised Scheme of Preferences Plus) status for Pakistan for next 10 years, which was set […]

GB’s agriculture, food & nutrition security discussed

Gilgit, Jun 22 (APP):Sony Jawari Center for Public Policy (SJCPP) in collaboration with WWF-Pakistan and ICIMOD organised a day long policy dialogue on agriculture, food and nutrition security in Gilgit-Baltistan to share and discuss the draft policy with relevant stakeholders. Representatives of government, research and […]

ECC approves tariff rationalization for K-electric

ISLAMABAD, Jun 22 (APP): The Economic Coordination Committee (ECC) approved on Wednesday the tariff rationalization for K-Electric by way of adjustments of increase Rs0.571/unit with recovery period of three months. Ministry of Energy, Power Division submitted a summary on tariff rationalization for power sector. As […]

Europe faces ‘scramble’ to replace dwindling Russian energy – IEA

BRUSSELS – June 22 (ONLINE) Europe must race to replace sanctioned and curtailed Russian energy supply and should double down on efficiency and renewables, including nuclear power, the International Energy Agency (IEA) said on Wednesday. Gas prices have hit record levels as a slowdown in […]

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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