Pakistan News International

Business & Economy

BuzzFeed to go public after raising less money than expected

New York, Dec 4 (AFP/APP):American digital company BuzzFeed, known for its viral content and journalism, will go public on Monday after it initially raised less money than expected. In a press release Friday, BuzzFeed said it had finalized a merger with 890 5th Avenue Partners, […]

Govt to ensure transparency in Ehsaas cash program and BISP: Senate panel told

Islamabad – December 3 (Online): Senate Standing Committee on Poverty Alleviation and Social Safety was told Friday that various programs were being administered under Ehsas Emergency cash program and Benazir Income Support Program (BISP) and measures were taken to ensure transparency of the programs. According […]

IMF warns of ‘economic collapse’ unless G20 extends debt relief

Washington, Dec 2 (AFP/APP):The IMF on Thursday urged advanced economies in the G20 to extend and improve its debt relief initiative, warning that many countries face a dire crisis without the help. “We may see economic collapse in some countries unless G20 creditors agree to […]

67 countries reach ‘historic’ deal on trade in services at WTO

Geneva, Dec 2 (AFP/APP):A group of 67 countries, including the United States, China and EU members, reached a deal at the World Trade Organization Thursday on facilitating trade in services. The countries, which account for just over a third of all WTO members but represent […]

EU fines major banks 344 mn euros over forex cartel

Brussels, Dec 2 (AFP/APP):Brussels slapped fines totalling 344 million euros (390 million dollars) Thursday on Barclays, RBS, HSBC and Credit Suisse after finding the banks had engaged in a forex trading cartel. Traders at UBS were also found to have taken part, but the European […]

PM Imran Khan lauds FBR for 35% increased tax collection

Islamabad – December 1 (Online): Prime Minister Imran Khan on Wednesday congratulated Federal Board of Revenue for achieving an increase of 35 percent in revenue collection during the last month as compared to November 2020. Sharing a graph of FBR collection in his tweet today […]

Power sector circular debt jumps to Rs2.5 trillion

KARACHI, DEC 01 (ONLINE): Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said power sector circular debt has become a threat to the economy. It has increased […]

Govt creating business-friendly environment to stabilize economy: Asad

Islamabad – December 1 (Online): Federal Minister for planning, development and special initiatives Asad Umar on Wednesday said that government was solving out problems faced by business community for stable economy and business-friendly environment. According to details, an important meeting was held under the chairmanship […]

Govt prioritizes operationalization of CPEC projects: PM

Islamabad – December 1 (Online): A high-level meeting, chaired by Prime Minister Imran Khan in Islamabad Wednesday reviewed progress on CPEC-related projects. Addressing the meeting, the Prime Minister underscored that continuity of policies is essential for long-term projects in order to achieve maximum benefits for […]

UK gas firm says to supply Morocco electricity company

Rabat, Nov 30 (AFP/APP):A British gas company is to supply Morocco’s state-owned power firm with gas from the country’s east, it said Tuesday, as the kingdom looks to replace supplies hit by a crisis with Algeria. The deal between Sound Energy and Morocco’s ONEE comes […]

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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