Pakistan News International

Business & Economy

Razak ask Japanese IT, companies to engage local youth

ISLAMABAD, Oct 14 (APP):Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood has invited Japanese Information Technology (IT) companies to engage with and benefit from young, talented and skilled human resource in Pakistan. He was speaking at a webinar on “Current State of […]

World Bank hails Pakistan for economic recovery, policy reforms

ISLAMABAD, Oct 14 (APP):The World Bank Managing Director Axel van Trotsenburg Thursday commended the efforts of the government of Pakistan for economic recovery and policy reforms. A high-level Pakistani Delegation comprising of Minister for Economic Affairs, Omar Ayub Khan, Minister for Finance and Revenue, Shaukat […]

Promotion of tax culture inevitable for prosperous Pakistan: President

ISLAMABAD, Oct 14 (APP):President Dr Arif Alvi Thursday said that the promotion of tax culture was inevitable for a prosperous society as well as the country. The president, addressing the “First Ever Taxpayer Recognition Awards” ceremony here said the automation of the taxation system would […]

US regulators warn firms over fake online reviews

New York, Oct 14 (AFP/APP):Hundreds of companies ranging from Amazon to Google have been warned against resorting to bogus customer reviews, US regulators said, signalling a crackdown on misleading endorsements that have proliferated online. The Federal Trade Commission has sent warning letters to some 700 […]

DR Congo making headway on corruption, says finance inspector

Kinshasa, Oct 14 (AFP/APP):The Democratic Republic of Congo has the reputation for being one of the world’s most graft-prone countries, ranking 170th out of 180 nations in Transparency International’s 2020 Corruption Perception Index. But the DRC’s recently appointed chief inspector of finance, Jules Alingete Key, […]

Food and rent prices drive US inflation spike in September

Washington, Oct 14 (AFP/APP):The US inflation spike is not over, according to government data released Wednesday that showed prices for food and rents increasing in the world’s largest economy last month, underscoring the complications Washington policymakers face as they guide the country’s bounceback from the […]

Sri Lankan envoy stresses enhancing Pak-Sri Lanka bilateral trade

FAISALABAD, Oct 13 (APP):Bilateral trade between Pakistan and Sri Lanka is much low as compared to its potential and we must make concerted efforts to enhance it to a reasonable level, said Yasin Joyia Honorary Consul General of Sri Lanka. Addressing the business community at […]

Shipping crunch to last up to 9 months: UK ports body

London, Oct 13 (AFP/APP):The world’s biggest container ports will remain clogged up for six to nine months because of the supply chain crisis, the British Ports Authority warned on Wednesday. The gloomy forecast came one day after Danish shipping giant AP Moller-Maersk revealed it has […]

UK economy rebounds 0.4% in August: data

London, Oct 13 (AFP/APP):Britain’s economy rebounded in August after the lifting of coronavirus restrictions, but unexpectedly shrank the previous month, official data showed Wednesday. Gross domestic product grew 0.4 percent in August, the first full month since the lifting of Covid curbs, the Office for […]

In eastern DR Congo, a business battles with violence and uncertainty

Beni, DR Congo, Oct 13 (AFP/APP):Roger Muhindo is proud of his chocolate factory — an emblem of entrepreneurial courage in one of the world’s most troubled regions. “We are pioneers!” Muhindo proclaims at the entrance to his plant, where 10 employees make a locally sourced […]

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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