Pakistan News International

Business & Economy

Railways minister expresses concern over neglecting ML-1 project

LAHORE, Apr 30 (APP): Minister for Railways and Aviation Khawaja Saad Rafique expressed concern over stoppage of ML-1 project by the previous regime. Presiding over the meeting on development plans, Rabita Application and the latest situation of ML-1 here on Saturday, the Federal Minister said […]

Petroleum products’ price kept unchanged

ISLAMABAD, Apr 30 (APP): The government on Saturday kept prices of petroleum products unchanged for next fortnight so that consumers are not burdened with price hike, Finance Ministry said in a statement issued here. “In the fortnightly review of petroleum products’ prices, Prime Minister has […]

Fiscal deficit recorded at 4% in 3 quarters

ISLAMABAD, Apr 30 (APP):The fiscal deficit was recorded at 4 percent of Gross Domestic Product (GDP) during the first three quarters (July-March) of the current fiscal year (2021-22) against 3.0 percent of GDP (on the basis of revised GDP) last year, says Monthly Economic Update […]

Pakistan, Italy to sign labour agreement soon: Ambassador Jauhar

ISLAMABAD, APRIL 30 (Online): Ambassador of Pakistan to Italy, Jauhar Saleem has said Pakistan and Italy will sign a labour agreement soon aimed at providing employment opportunities to Pakistan’s skilled labor in Italian market. Talking to the media through video link from Rome, he said […]

Pakistan dependent on loans for survival: Pakistan Economy Watch

ISLAMABAD, April 30 (Online): The Pakistan Economy Watch (PEW) on Saturday said despite being a rich country, Pakistan depends on foreign loans for its survival because its economy is non-productive. Profit in non-productive sectors is much higher than in the productive sectors therefore the investment […]

IMF board approves two-year $9.8 bn credit line for Colombia

Washington, April 29 (AFP/APP): The IMF’s Executive Board on Friday approved a two-year, $9.8 billion credit line for Colombia that the South American country can use to help its economy weather shocks from abroad. “The new arrangement under the Flexible Credit Line will reinforce market […]

Spain cuts 2022 growth forecast over war in Ukraine

Madrid, April 29 (AFP/APP): Spain on Friday slashed its economic growth forecast for 2022, mainly due to the fallout of Russia’s invasion of Ukraine which has fuelled inflation and hurt consumer demand. The gross domestic product of the eurozone’s fourth-largest economy is now expected to […]

Russian central bank slashes key interest rate again

Moscow, April 29 (AFP/APP): Russia’s central bank Friday said it was cutting its key interest rate for a second straight time as risks of price rises and financial instability were no longer rising. The Bank of Russia said it was slashing the rate from 17 […]

Libya losing $60 million a day in oil shutdown: minister

Tripoli, April 29 (AFP/APP): Libya is losing tens of millions of dollars a day from the shutdown of its oil facilities, while global prices are at their highest in years, the country’s oil minister told AFP. Oil is the lifeblood of the North African country […]

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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