Pakistan News International

Business & Economy

RCCI elections 2021-22; Executive body elected unopposed

RAWALPINDI, Sep 11 (APP):The election of corporate and associate class members had been completed in the annual election of Rawalpindi Chamber of Commerce and Industry(RCCI) for the year 2021-22 here Saturday. According to a statement issued here, 11 candidates had filed nomination papers for five […]

MoU signed to promote China-Pak cooperation in international arbitration

BEIJING, Sept. 11 (APP):Guangzhou Arbitration Commission (GZAC), China and Center for International Investment and Commercial Arbitration (CIICA) – Pakistan’s first international arbitration center – signed a Memorandum of Understanding (MoU), to deepen cooperation in international arbitration between both countries. According to GZAC, the signing of […]

Taxpayers now can file declarations between Sept 10 to 25: FBR

ISLAMABAD, Sep 10 (APP):Federal Board of Revenue (FBR) Friday granted relaxation in filing of declarations under Assets Declaration Ordinance, 2019. The FBR has decided to grant one-time opportunity to the taxpayers who paid their tax under the Assets Declaration Ordinance-2019 but somehow could not file […]

Big Tech made billions during ‘war on terror’: report

Washington, Sept 10 (AFP/APP):Tech giants made billions through contracts with the US military and other government agencies during the so-called “war on terror”, according to a report released ahead of the 20th anniversary of 9/11. The “Big Tech Sells War” report, published Thursday by three […]

NEPRA approves Rs 1.38 per unit increase in power tariff for July

ISLAMABAD, Sep 10 (APP):The National Electric Power Regulatory Authority (NEPRA) on Friday approved Rs 1.38 per unit increase in power tariff for July under the monthly fuel cost adjustment (FCA) mechanism. The regulator held public hearing on September 1. The Central Power Purchase Agency (CPPA-G) […]

Gold price increase by Rs400 to Rs112,400 per tola

ISLAMABAD, Sep 10 (APP):The price of 24 karat per tola gold increased by Rs400 and was trade at Rs112,400 on Friday against its sale at Rs112,000 in the local market the previous day, Karachi Sarafa and Jewellers Group reported. The price of 10 gram 24 […]

Price of sugar, rice go down

ISLAMABAD, Sep 10 (APP):The prices of food items including sugar and rice went down during the week ending on September 9, as compared to the previous week, the Sensitive Price Indicator (SPI) data released by Pakistan Bureau of Statistics (PBS) Friday revealed. According to the […]

FFC Delegation visits Central Depository Center, Karachi

Karachi (PNI) Fauji Fertilizer Company Limited (FFC) delegation comprising Company Secretary, Brig (R) Asrat Mahmood and Manager Shares, Syed Imran Rizvi visited the Central Depository Center (CDC), Karachi on September 09, 2021 and met Mr. Badiuddin Akbar, the Chief Executive Officer (CEO) and Mr. Abdul […]

No extension in tax returns filing date after Sept 30: FBR

ISLAMABAD, Sep 09 (APP):Federal Board of Revenue (FBR) Thursday decided for no extension in tax returns filing date after September 30, to ensure the in-time tax collection in the country. Improvement of tax compliance culture is prime objective of the government and FBR is actively […]

Biden facing pressure from Democrats to replace Fed chief

Washington, Sept 9 (AFP/APP):President Joe Biden is facing growing pressure within his Democratic party to remove Jerome Powell from the helm of the American central bank at a key moment for the US economy. With the Federal Reserve trying to orchestrate a sustained recovery that […]

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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