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Business & Economy

Govt all set to present its 3rd budget on Friday

Posted on by News Desk

ISLAMABAD, The incumbent government, led by Pakistan Tahreek-e-Insaf (PTI), is all set to present its third budget for the fiscal year 2021-22 in the Parliament on June 11 (Friday), amid the third wave of Coronavirus (Covid-19), which had affected world economies including Pakistan. The budget […]

Govt all set to present its 3rd budget on Friday

Posted on by News Desk

ISLAMABAD, The incumbent government, led by Pakistan Tahreek-e-Insaf (PTI), is all set to present its third budget for the fiscal year 2021-22 in the Parliament on June 11 (Friday), amid the third wave of Coronavirus (Covid-19), which had affected world economies including Pakistan. The budget […]

Services trade deficit shrinks 53.01% in 10 months

Posted on by News Desk

ISLAMABAD, The country’s services trade deficit contracted by 53.01 percent during the first ten months of the current financial year (2020-21) as compared to the corresponding period of last year. The services trade deficit during July-April (2020-21) was recorded at $1420.55 million against the deficit […]

Exports increase by 13.97% in 11 months

Posted on by News Desk

The exports from the country witnessed an increase of 13.97 percent during the first eleven months of the current fiscal year (2020-21) as compared to the exports of corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports during July-May (2020-21) were […]

NBP Exchange Rates

Posted on by News Desk

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 156.25 155.75 EURO EUR 190.33 189.72 JAPANESE YEN JPY 1.4273 1.4227 BRITISH POUND GBP 221.27 220.56 SWISS FRANC CHF […]

Govt to unveil Economic Survey 2020-21 on Thursday

Posted on by News Desk

ISLAMABAD, The federal government will launch the pre-budget document, Economic Survey of Pakistan 2020-21 on Thursday with a higher GDP growth rate of 3.94 percent and positive performance of almost all the macro economic indicators during the year. The Survey is scheduled to be shared […]

Foreign exchange rates

Posted on by News Desk

KARACHI, The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following exchange rates bulletin, here on Tuesday. 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 […]

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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