Pakistan News International

Business & Economy

Huawei executive to be freed after deal with US prosecutors

New York, Sept 24 (AFP/APP):The chief financial officer of Chinese telecoms giant Huawei reached a deferred prosecution agreement with US prosecutors Friday to avoid felony fraud charges, clearing the way for her release after nearly three years detention in Canada. US Justice Department attorney David […]

Chinese police detain top execs from troubled HNA Group

Beijing, Sept 24 (AFP/APP):Chinese police have detained two top executives of the debt-laden conglomerate HNA Group on suspicion of “illegal crimes”, the group said late Friday, as the government in Beijing further cracks down on the country’s corporate sector. Transport and logistics giant HNA Group […]

SBP slaps ban on banks to extend loans to buy imported vehicles

ISLAMABAD, Sep 24 (Online): Ban has been slapped by State Bank of Pakistan (SBP) on banks to extend loans to people for buying imported vehicles. As per media reports conditions have also been tightened on providing diverse loans including car, personal and credit card to […]

Samsung to setup TV plant in Pakistan

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

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

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 […]

Finance division proposes names for post of NBP board director

Islamabad September 21 (Online): Excluding the additional secretary’s name from the National Bank of Pakistan (NBP) board, the Finance Division on Monday asked the federal cabinet to appoint an independent director for three years out of three proposed names. Sources said that Finance Division has […]

PAC for blacklisting oil and gas companies for not paying dues

Islamabad – September 21 (Online): Public Accounts Committee (PAC), in its meeting on Tuesday showed vexation over oil and gas companies for not paying their large payments. According to details, PAC meeting was held under the chair of its convener Syed Naveed Qamar at parliament […]

Meeting to indentify gaps between payment solutions to promote e-commerce held

Islamabad September 21 (Online): A consultative session was held with all relevant stakeholders to indentify gaps between payment solutions available domestically and its integration with international payment gateway solution providers to promote e-commerce in Islamabad. Federal Minister for Finance and Revenue Shaukat Tarin, presided over […]

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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