Pakistan News International

Business & Economy

UN chief welcomes creation of new IMF trust

UNITED NATIONS, Apr 18 (XINHUA/APP): UN Secretary-General Antonio Guterres on Saturday welcomed the creation of the Resilience and Sustainability Trust (RST) by the International Monetary Fund (IMF), said his spokesman.   Guterres congratulated IMF Managing Director Kristalina Georgieva and the Executive Board for approving the […]

Europe’s biggest solar power plant in Turkiye to meet power needs of 2M

ANKARA, Apr 18 (AA/APP):Europe’s biggest solar power plant, the under-construction Karapinar plant in Konya in south-central Turkey, is poised to be fully operational by the end of 2022, Cemal Kalyoncu, the chairman of Kalyon Holding, the company responsible for the project, said on Monday. The […]

Mongolia’s foreign trade turnover up 3.1 pct in Q1

ULAN BATOR, April 18 (Xinhua/APP) –: Mongolia’s foreign trade turnover increased by 3.1 percent year on year to 3.6 billion U.S. dollars in the first quarter of this year, said the country’s National Statistics Office on Monday. Mongolia registered a foreign trade surplus of 251.4 […]

Shenzhou-13 astronauts out of return capsule

BEIJING, April 16 (Xinhua/APP) –: Astronauts Zhai Zhigang, Wang Yaping and Ye Guangfu are out of the return capsule of the Shenzhou-13 spaceship, all in good physical condition. […]

Spices exports witness 20.78% increase

ISLAMABAD, Apr 16 (APP): Spices exports during the first eight months of fiscal year of 2021-22 grew by 20.78 % as compared to the exports of the commodity during the corresponding period of last year. During the period from July-Feb 2021-22 Spices worth US $74,946 […]

Pakistan’s exports to China continue to grow substantially

BEIJING, Apr 12 (APP): In recent years, with the rapid progress of the construction of China-Pakistan Economic Corridor (CPEC) and Special Economic Zones (SEZs), Chinese enterprises, especially private small and medium-sized enterprises, have significantly increased their investment in Pakistan. The economies of the two countries […]

More than 4 mln Australian workers in insecure work: report

SYDNEY, April 12 (Xinhua/APP): A new report has revealed that over 4 million Australian workers are currently in insecure work, highlighting the growing precarity faced by workers in the “gig economy”. The report, published by the Australian Council of Trade Unions (ACTU) on Monday, showed […]

Staff shortage bars National Savings from facilitating pensioners

ISLAMABAD, Apr 10 (APP): Staff shortage and inadequate number of branches have made it impossible for the National Savings to facilitate pensioners and investors at various branches across the country. An administrative and management crisis surfaced when the Finance Ministry transferred the system of saving […]

Crisis-hit Sri Lanka hikes rates as protests spiral

Colombo, April 8 (AFP/APP):Cash-strapped Sri Lanka’s central bank hiked interest rates by a record 700 basis points Friday as police fired tear gas at hundreds of students protesting over the economic crisis. Severe shortages of food and fuel, alongside lengthy electricity blackouts, have led to […]

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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