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Business & Economy

Economy put on sustainable, quality growth path: Khusro

Posted on by News Desk

ISLAMABAD, Federal Minister for Industries and Production, Khusro Bakhtiar said Thursday that the incumbent government had laid solid foundation of economy to promote long-term sustainable economic growth. Addressing the launching ceremony of environment-friendly Electric motorbike here, the federal minister said that the country had to […]

NBP Exchange Rates

Posted on by News Desk

KARACHI, Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 159.40 158.90 EURO EUR 188.32 187.73 JAPANESE YEN JPY 1.4413 1.4368 BRITISH POUND GBP 219.76 219.08 SWISS FRANC CHF […]

Currency rates of NBP

Posted on by News Desk

KARACHI, Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Thursday. CURRENCY SELLING BUYING USD 160.99 157.51 GBP 221.96 216.82 EUR 189.88 185.81 JPY 1.4557 1.4224 SAR 42.97 41.90 AED 43.83 43.12 […]

7 more Pakistani firms allowed for exporting rice to China

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ISLAMABAD, After completing required international food safety and security standards, China has allowed 7 more Pakistani rice units to export rice. The initiative would help further increase the exports of rice, specially would enable Pakistani rice exporters to penetrate in Chinese markets. In this regard, […]

Minister reviews proposed Punjab Skill Policy 2021-26

Posted on by News Desk

LAHORE, Punjab Minister for Industries and Commerce Mian Aslam Iqbal chaired a meeting to review the proposed Punjab Skill Policy 2021-26 at TEVTA (Technical Education and Vocational Training Authority) secretariat, here on Tuesday. TEVTA Chairman Ali Salman Siddique gave a detailed briefing on the first […]

Fiscal deficit to remain within target: Report

Posted on by News Desk

ISLAMABAD, With continuity in fiscal consolidation efforts, the fiscal deficit for the entire fiscal year is expected to remain within the target, according to Finance Ministry report. “For Fiscal Year 2022, the fiscal deficit is budgeted to be at 6.3 percent of GDP,” said monthly […]

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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