Pakistan News International

Business & Economy

Vietnam’s banks raise interest rates amid inflation

HANOI, May 18 (Xinhua/APP): Many banks in Vietnam have increased deposit interest rates by 0.1 to 0.6 percentage points amid the growing demand for funds and inflationary pressure, local media reported on Wednesday. The rates have increased sharply since the beginning of this month, with […]

Iraq balks at greater Chinese control of its oilfields

BAGHDAD – May 17 (ONLINE) Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy. Since the […]

ADB reaffirms support for reform programmes

ISLAMABAD, May 17 (APP): The Asian Development Bank (ADB) here on Tuesday re-affirmed its commitment to continue support for strengthening reform programmes and for implementation of country’s development agenda including fiscal management, building resilience and boosting competitiveness and development of private sector. The reaffirmation was […]

ECC allows import of urea on deferred payment

ISLAMABAD, May 16 (APP): The Economic Coordination Committee (ECC) of the Cabinet here on Monday allowed Trading Corporation of Pakistan (TCP) to explore possibility for import of 200,000 MT of Urea on government to government (G2G) basis and on deferred payment. The ECC gave the […]

Gwadar’s 300 MW coal power plants to end energy scarcity by 2023

ISLAMABAD, May 15 (APP):The longstanding vagaries of the port city of Gwadar due to growing energy scarcity would end by October, 2023 after the completion of the 300megawatts coal-fired power plant. The 300-megawatt (MW) coal-fired Gwadar Power Plant would cater the needs of some 150,000 […]

SECP registers 2,345 new companies in April

ISLAMABAD, May 14 (APP): The Securities and Exchange Commission of Pakistan (SECP) has registered 2,345 new companies in April 2022 raising the total number of registered companies to 168,030. This shows an increase of 7% as compared to corresponding period last year. The total number […]

ICCI for focusing on Africa to promote trade and exports

ISLAMABAD, May 14 (APP): Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce and Industry (ICCI) said that Africa is a huge market, which still remains untapped and urged that the government to focus on African countries to boost its trade and exports. He said this […]

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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