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Business & Economy

Foreign exchange rates

Posted on by Hooriya Qureshi

KARACHI, May 31 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Friday. CONVERSION RATES FOR May 31, 2024 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE […]

Currency rates of NBP

Posted on by Hooriya Qureshi

KARACHI, May 30 (APP):Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Thursday. CURRENCY SELLING BUYING USD 281.23 275.12 GBP 357.01 349.24 EUR 303.67 297.61 JPY 1.7873 1.7483 SAR 74.99 73.35 AED 76.58 75.40 […]

USC reduces ghee price by Rs 18 per kg

Posted on by Hooriya Qureshi

ISLAMABAD, May 27 (APP): The Utility Stores Corporation (USC) on Monday announced a reduction of Rs 18 per kilogram in the price of subsidized ghee with immediate effect. According to the USC spokesperson, the corporation has reduced the price of ghee by Rs 18 for […]

Tractors assembling increases 54.72 in 10 months

Posted on by Hooriya Qureshi

ISLAMABAD, May 27 (APP): Tractor assembling in the country during first 10 months of current financial year increased by 54.72 percent as compared to the production of the corresponding period of the last year. During the period from July-April, 2023-24 over 39,564 tractors were locally […]

Foreign exchange rates

Posted on by Hooriya Qureshi

KARACHI, May 27 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Monday. CONVERSION RATES FOR May 27, 2024 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE May […]

Zindigi JS Bank & 5th Pillar Family Takaful Signed MoU

Posted on by News Desk

Islamabad, Pakistan: The Digital banking Initiative of JS Bank, Zindigi, has partnered with 5th Pillar Family Takaful, a prominent provider of Takaful products and services, to make Hajj and Umrah pilgrimages more accessible. This collaboration brings together Zindigi’s user-friendly digital platform with 5th Pillar’s established […]

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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