Pakistan News International

Business & Economy

Private sector engine of growth to drive economic growth: Chairman BOI

ISLAMABAD, Jan 13 (APP):Minister of State and Chairman Board of Investment (BOI) Muhammad Azfar Ahsan on Thursday said that private sector is the engine of growth and successful businesses drive growth, create jobs and pay the taxes that finance services and investment. “BOI has initiated […]

PAAPAM to hold Pakistan Auto Show-2022 in Lahore

LAHORE, JAN 13 (Online): The much-celebrated Pakistan Auto Show (PAPS), organized every year by the Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM), has been shifted from Karachi to the Lahore Expo Center to be held on July 29-31, 2022. Traditionally, this mega show […]

Pakistan Single Window system to facilitate business community

FAISALABAD, Jan 13 (APP): The Pakistan Single Window (PSW) is a new, innovative and globally reliable cross border trade system to facilitate the business community in addition to fulfilling all regulatory requirements. This was said by Madam Lareeb Ghaffar, Domain Officer PSW Company, while addressing […]

Karachi Port Trust shipping movements report

KARACHI, Jan 13 (APP): Following were the Movements of Ships at Karachi Port Trust (KPT) during last 24 hours, ending at 0700 hours on Thursday. SHIPS BERTHED: Budapest ExpressContainer Ship MTM SavannahTanker SHIPS SAILED: KMTC Mundra Kota Megah MSC Emily II Kota Padang EXPECTED SAILING: […]

Foreign exchange rates

KARACHI, Jan 13 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Thursday. CONVERSION RATES FOR 13TH JANUARY 2022 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE JANUARY […]

Indonesia to allow selected operators to resume coal exports

Jakarta, Jan 13 (AFP/APP):Indonesia, the world’s largest thermal coal exporter, said it will allow some operators to resume shipping out the commodity, a senior minister said Thursday, pointing to a relaxation of a ban decreed on January 1. Thirty-seven vessels loaded with coal have already […]

Finance bill aimed at documenting economy, capture tax chain. Muzammil Aslam

ISLAMABAD, Jan 13 (APP):Spokesperson to Minister of Finance, Muzammil Aslam Thursday said that supplementary finance bill was aimed at documenting the national economy, capturing the tax value chain and enhancing taxpayers penetration through simplification of revenue system for broadening of the tax base. Addressing a […]

French bakers fume at cut-price supermarket baguettes

Paris, Jan 13 (AFP/APP):French bakers have taken aim at a major supermarket chain that is offering inflation-busting low prices for baguettes, saying the move would undermine competition in one of the country’s prized industries. The Leclerc group said in newspaper ads on Tuesday that “because […]

Freight train route launched between Suzhou, Vientiane

NANJING, Jan. 12 (Xinhua/APP):A freight train route has been launched between Suzhou, a major export hub in east China, and Lao capital Vientiane, according to the train operator. A train carrying goods such as LCDs and auto parts, with a total value of about 50 […]

Markets rally with Wall St as Powell eases inflation fears

Hong Kong, Jan 12 (AFP/APP):Asian and European equities rallied Wednesday, tracking a strong performance on Wall Street as Federal Reserve chief Jerome Powell said he was determined to rein in runaway inflation but pledged to maintain the healthy recovery in the world’s top economy. Global […]

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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