Pakistan News International

Business & Economy

Pakistani banker appointed to top position in a global bank

ISLAMABAD, Farhan Faruqui, an eminent international banker, has been appointed as Group Chief Financial Officer of The Australia and New Zealand Banking Group (‘ANZ’). Founded in 1835, the bank is one of the largest banks in the world measured by total assets of more than […]

NBP Exchange Rates

KARACHI, Treasury Management Division of National Bank of Pakistan (NBP) on Wednesday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 164.30 163.80 EURO EUR 192.89 192.30 JAPANESE YEN JPY 1.4851 1.4806 BRITISH POUND GBP 227.25 226.56 SWISS FRANC CHF […]

Foreign exchange rates

KARACHI, The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Wednesday. LIBOR FOR CALCULATING INTEREST ON SPECIAL US DOLLAR BONDS VIDE SBP F.E. CIRCULAR NO.42 & 21.07.98 & 04.08.98 RESPECTIVELY. LIBOR VALUE 6 MONTHS US DOLLAR […]

ECC approves NRLP structure, financial impact to incentivize remitters

ISLAMABAD, The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved the structure and estimated financial impact of the National Remittance Loyalty Program (NRLP), a mobile application for which is scheduled to be launched in October 2021. The NRLP programme is being introduced with a […]

Green line BRT to start from October: Asad Umar

ISLAMABAD, Minister for Planning, Development and Special Initiatives Asad Umar on Tuesday said the Green Line Bus Rapid Transit System (BRT) service in Karachi would become operational by October this year. “Prime Minister Imran Khan reviewed progress of five federal projects in Karachi transformation plan […]

PSX gains 11 points to close at 47,135 points

ISLAMABAD, The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Tuesday, gaining 11.86 points, with a positive change of 0.03 per cent, closing at 47,135.48 points against 47,123.62 points on the last working day. A total of 370,038,860 shares were traded […]

Rupee appreciates against dollar

ISLAMABAD, The exchange rate of Pakistan rupee appreciated by 15 paisas against the US dollar in interbank trading on Monday and closed at Rs163.75 as compared to the previous day’s closing of Rs163.90. According to Forex Association of Pakistan (FAP), the buying and selling rates […]

Balochistan govt installs online tax collection system

ISLAMABAD, Balochistan government has installed online tax collection system in a bid to increase revenue collection and promote tax culture in the province. Balochistan Finance Minister Mir Zahoor Buledi said that the initiative would not only facilitate taxpayers in the province but also bring transparency […]

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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