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Business & Economy

Samsung to setup TV plant in Pakistan

Posted on by News Desk

Islamabad – September 23 (Online): South Korean multinational technology company Samsung Electronics, in collaboration with a local partner is processing to setup TV manufacturing plant in Karachi, media reports revealed. Adviser to Prime Minister on Commerce Abdul Razak Dawood on Wednesday confirmed the news. “I […]

ECC approve sugar import tenders of 50,000 MT

Posted on by News Desk

ISLAMABAD, Sep 23 (APP):The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved to import 50,000 MT sugar to maintain sufficient stock in the country. The ECC approved to import sugar in 03 segregated tenders of 50,000 MT each so that there is more […]

Italy moves to keep energy bills down

Posted on by News Desk

Rome, Sept 23 (AFP/APP):Italian Prime Minister Mario Draghi on Thursday announced measures worth three billion euros to keep gas and electricity bills down this winter as power prices soar across Europe. He told the Confindustria employers association the measures, equivalent to $3.5 billion, would particularly […]

Melbourne shuts construction sites after violent anti-vax protest

Posted on by Tuba Zafar

Melbourne, Sept 21 (AFP/APP):Construction sites across Melbourne were abruptly shuttered Tuesday after labourers rioted against new vaccination requirements in Australia’s second-largest city. Sites will be closed for two weeks, in what authorities described as a response to “widespread non-compliance” with Covid-19 regulations and violent protests. […]

US Democrats unveil plans to suspend debt limit

Posted on by Tuba Zafar

Washington, Sept 21 (AFP/APP):Democratic congressional leaders on Monday unveiled plans to suspend the nation’s borrowing limit, following a White House warning of “economic catastrophe” unless that ceiling is raised. The legislation also would fund the government through the end of the year after the current […]

NBP Exchange Rates

Posted on by Tuba Zafar

KARACHI, Sep 21 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Tuesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 169.20 168.70 EURO EUR 198.83 198.24 JAPANESE YEN JPY 1.5442 1.5397 BRITISH POUND GBP 231.24 230.56 SWISS […]

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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