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Business & Economy

Minister reviews proposed Punjab Skill Policy 2021-26

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

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 […]

Pak-China imports remained top among other countries: SBP

ISLAMABAD, China topped the list of countries from where Pakistan imported different products during the first eleven months of financial year (2020-21), followed by United Arab Emirates (UAE) and Singapore. The total imports from China during July-May (2020-21) were recorded at $11454.962 million against the […]

Chinese investors keen to invest in South Balochistan: Asad

ISLAMABAD, Minister for Planning, Development and Special Initiatives, Asad Umar said on Tuesday that Chinese investors have expressed their willingness to invest in South Balochistan package. Briefing media persons, the minister said that the Chinese investors would invest over $1 billion in this project. He […]

Exports perform well, up by 34% to China; 19% to Germany: Razak Dawood

ISLAMABAD, Adviser to Prime Minister on Commerce, Abudul Razak Dawood Tuesday said that despite the negative impacts of Covid-19, the exports have performed well in country’s major markets. “I’m pleased to share that our exports have done quite well in our major markets,” the adviser […]

Wheat Review Committee revises local wheat output to 27.539 mln tons

ISLAMABAD, The Wheat Review Committee of the Ministry of National Food Security and Research on Monday revised the local wheat production upward to 27.539 million tons for the season 2020-21 as against the first estimate of 27.33 million tons due to increase in total output […]

Rupee sheds 30 paisas against dollar

ISLAMABAD, The exchange rate of Pakistan rupee weakened by 30 paisas against the US dollar in the interbank trading on Monday and closed at Rs 158.17 as compared to the previous day’s closing of Rs 157.87. According to Forex Association of Pakistan (FAP), the buying […]

Imports of mobile phones, telecom apparatus surge to $2.33b

KARACHI, Import of mobile phones and other telecommunication apparatus to Pakistan increased 47 percent during the first 11 months of fiscal year 2020-21 as volume of telecom imports surged to US$ 2.337 billion. According to data released by Pakistan Bureau of Statistics total value of […]

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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