Pakistan News International

Business & Economy

ADB appoints new country director for Pakistan

The Asian Development Bank (ADB) Tuesday announced it has appointed Yong Ye as its new Country Director for Pakistan, effective immediately. Mr. Ye will lead ADB’s operations in Pakistan and manage its Pakistan Resident Mission in Islamabad. Yong Ye will also oversee the implementation of […]

Exports increase by 16.44 pc in July

ISLAMABAD, The exports from the country witnessed an increase of 16.44 percent during the first month of the current fiscal year (2021-22) as compared to the corresponding month of last year, Pakistan Bureau of Statistics (PBS) reported Monday. According to PBS data, the exports from […]

Pak-Holland trade records 107.62% surplus in FY21

ISLAMABAD, Pakistan’s goods and services trade with Holland witnessed surplus of 107.62 percent during fiscal year (2020-21) as compared to the corresponding period of last year. The overall exports to Holland were recorded at $1118.093 million during July-June (2020-21) against exports of $982.263 million during […]

Chemicals, pharmaceutical products’ exports witness 13.94% increase

ISLAMABAD, Chemicals and Pharmaceutical Products’ exports during the fiscal year of 2020-21 grew by 13.94 per cent as compared to the exports of the corresponding period of last year. During the period from July-June 20-21, chemicals and pharmaceutical products worth US $1,148,943 thousand exported as […]

Razak Dawood, minister discuss industrialization in Punjab

LAHORE, Prime Minister’s Advisor on Commerce and Investment, Abdul Razak Dawood and Provincial Minister for Industries and Commerce, Mian Aslam Iqbal Saturday co-chaired a meeting to discuss industrialization in the province. Held here at Punjab Board of Investment and Trade (PBIT), the meeting discussed the […]

ADB approves $500 mln to procure COVID-19 vaccines for Pakistan

ISLAMABAD, The Asian Development Bank (ADB) Friday approved a $500 million loan to help Pakistan procure and deploy safe and effective coronavirus disease (COVID-19) vaccines and strengthen the country’s capacity to implement its vaccination program. The project will support Pakistan’s National Deployment and Vaccination Plan […]

Commerce ministry organize virtual ‘E-Commerce Youth Conference’

ISLAMABAD, The Ministry of Commerce on Friday organized virtual E-Commerce Youth Conference for consultation and implementation of government’s ‘E- commerce Policy’ to empower youth in the country. The Ministry of Commerce planned a one-day Virtual E-Commerce Youth Conference in collaboration with Kamyab Jawan Program, USAID […]

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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