Pakistan News International

Business & Economy

MD Utility Stores Corporation is monitoring Ramadan relief package

ISLAMABAD, Apr 08 (APP): Managing Director Utility Stores Corporation (USC) Taha Aziz Maghribi on Friday visited various stores in Peshawar, Abbottabad to review the supply and sale of basic items provided under the package. According to the press release issued Islamabad office, Managing Directer USC […]

ICCI shows concerns over rising trade deficit

Islamabad, April 07 (ONLINE): Muhammad Shakeel Muhammad, President, Islamabad Chamber of Commerce & Industry (ICCI) has expressed great concerns over the Pakistan’s rising trade deficit, which has widened 70 percent to USD 35.4 billion during July-March 2022 due to rising imports and stagnant exports, which […]

Pakistan’s Liquid Foreign Reserves position

KARACHI, Apr 07 (APP): The total liquid foreign reserves held by the country stood at US$ 17,476.9 million as of April 1st, 2022. The break-up of the foreign reserves position is as under: i) Foreign reserves held by the State Bank of Pakistan: US$ 11,319.2 […]

SBP raises policy rate to 12.25 %

KARACHI, Apr 07 (APP):The State Bank of Pakistan on Thursday announced to increase its policy rate (interest) by 250 basis points to 12.25 percent, from 10 percent, for next two months.   SBP’s Monetary Policy Committee, in its meeting here at State Bank’s headquarters,  decided […]

Shell to take hit of up to $5 bn on Russia exit

London, April 7 (AFP/APP): British energy giant Shell warned Thursday that it would take a hit of up to $5 billion (4.6 billion euros) on its exit from Russia, following Moscow’s invasion of Ukraine. Impairment from assets and additional charges relating to Russia activities were […]

Philippine unemployment rate remains at 6.4 pct in February

MANILA, April 7 (Xinhua/APP): The unemployment rate remained at 6.4 percent in February despite easing of pandemic restrictions, the Philippine Statistics Authority (PSA) said Thursday. In a virtual press conference, PSA head Dennis Mapa said the labor force participation rate increased from 60.5 percent in […]

PFC to participate in 4-day EMITEX expo

ISLAMABAD, Apr 7 (APP): Pakistan Furniture Council (PFC), in collaboration with Chenone will participate in another 3-day “EMITEX” expo, which would be held in Buenos, Aires, Argentina to showcase Pakistani products and identify new global markets besides luring foreign investments. Chief Executive Officer PFC , […]

Sri Lankan president appoints advisory group on debt sustainability

COLOMBO, April 7 (Xinhua/APP): Sri Lankan President Gotabaya Rajapaksa has appointed an advisory group on debt sustainability composed of economic and financial experts, the president’s media division said on Wednesday night. The members of the advisory group include Indrajit Coomaraswamy, former governor of the central […]

S.Korea approvals reserve fund to relocate presidential office

SEOUL, April 6 (Xinhua/APP) –: The South Korean government of President Moon Jae-in on Wednesday approved reserve fund for President-elect Yoon Suk-yeol’s plan to relocate the presidential office. The spending of 36 billion won (30 million U.S. dollars) in reserve fund was approved in an […]

China’s marine economy logs steady growth in 2021

BEIJING, April 6 (Xinhua/APP): China’s gross ocean product rose 8.3 percent to over 9 trillion yuan (about 1.41 trillion U.S. dollars) in 2021, official data showed. The figure contributed 8 percent of the country’s gross domestic product expansion, according to the Ministry of Natural Resources. […]

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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