Pakistan News International

Business & Economy

Pakistan receives $1 billion against Euro bonds

ISLAMABAD, The State Bank of Pakistan (SBP) on Wednesday received US$1.0 billion proceeds of the government’s tap offering of its recently issued Euro Bond. According to a tweet of the central bank, the SBP’s foreign exchange reserves as on July 13, 2021 had reached US$18.2bn, […]

Workers’ remittances soar all time high to $29.4 bn in FY21

ISLAMABAD, The overseas Pakistani workers’ remittances posted a historic annual high of US$29.4 billion during the year 2020-21 (Jul-Jun), showing an increase of 27 percent when compared with the preceding years’ remittances worth of $23.13 billion. “With inflows of around $2.7 billion in June 2021, […]

NEPRA notifies 26 paisa reduction in power tariff for May

ISLAMABAD, The National Electric Power Regulatory Authority (NEPRA) on Monday notified 26 paisa reduction in power tariff for May under the monthly fuel cost adjustment (FCA) mechanism. The Central Power Purchase Agency (CPPA) had sought reduction of 12 paisa in the tariff, having Rs 1.5 […]

NAB Karachi to file reference against Hafeez Shaikh, 2 FBR ex-chairmen

KARACHI, National Accountability Bureau Regional Board Karachi on Monday recommended to file a reference against former finance minister and two Ex-chairmen of FBR on charges of misuse of authority, causing loss of over US$ 11 million to national kitty. The Regional Board meeting- held here […]

Sports goods exports fall 1.06% in 11 months

ISLAMABAD, The exports of sports goods have witnessed a decrease of 1.06 percent during the first eleven months of fiscal year (2020-21) as compared to the exports of corresponding period of last year. Pakistan exported sports goods worth US $241.270 million during July-May (2020-21) against […]

Govt. releases 100% petroleum sector funds allocated under PSDP 2020-21

ISLAMABAD, The government has provided 100 per cent funds, amounting to Rs1,339.589 million, allocated under the Public Sector Development Programme (PSDP 2020-21) to execute petroleum sector projects. According to the official data that showed a slight readjustment in funds’ allocation, an amount of Rs1,339.589 million […]

Only 20 percent of above 50 years receive vaccine: Asad

ISLAMABAD, Minister for Planning, Development and Special Initiatives Asad Umar Sunday urged the citizens aged 50 years or above to get vaccinated to make themselves safe from the Covid-19 pandemic. In his tweet, the minister said Pakistan had 27.2 million people who were 50 years […]

BOI creating $50 billion FDI opportunities by 2023: Fareena

ISLAMABAD, The Board of Investment (BOI) is actively pursuing strategies to create opportunities for $50 billion Foreign Direct Investment (FDI) in the country by 2023 under its new investment plan, an official of the board told APP. “The BOI’s main priority is to attract investment […]

NBP Exchange Rates

KARACHI, Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 159.85 159.35 EURO EUR 189.54 188.95 JAPANESE YEN JPY 1.4544 1.4499 BRITISH POUND GBP 220.25 219.56 SWISS FRANC CHF […]

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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