Pakistan News International

Business & Economy

FBR starts operation against unregistered units

ISLAMABAD, In a drive against against violators of Sales Tax Act, 1990, Federal Board of Revenue’s Directorate of Intelligence and Investigation-Inland Revenue, Lahore has conducted proceedings against three unregistered units, manufacturing Plastic Footwear. The units were engaged in manufacturing and making taxable supplies of Plastic […]

COVID-19 vaccine procurement top priority of govt: Finance Minister

ISLAMABAD, Federal Minister for Finance and Revenue, Shaukat Tarin Friday said that providing safety to our citizens through the timely procurement of vaccine is foremost priority of the government. While chairing the meeting, he directed Economic Affairs Division (EAD) to start the process of availing […]

Bulls return as PSX gains 81.04 points, closes at 48,238 points

ISLAMABAD, The KSE 100-index of the Pakistan Stock Exchange (PSX) turned around Friday and witnessed bullish trend, gaining 81.04 points, with positive change of 0.17 percent, closing at 48,238.67 points against 48,157.63 points on the last working day. A total of 750,651,177 shares were traded […]

FBR constitutes committees to remove anomalies in finance bill- 2021

ISLAMABAD, Chairman, Federal Board of Revenue (FBR), Asim Ahmad Friday constituted anomaly committees (technical and business) in order to identify and remove the technical and legal anomalies in the Finance Bill 2021. The anomaly committee-technical would be chaired by Naeem Akhtar Sheikh, UHY Hassan Naeem […]

Shipping Activity at Port Qasim

KARACHI, Four ships, Sunbird Arrow, Aristomenis, Jeeppesen Merask and Jasco Zhang Zgou scheduled to load/offload, Bitumen, Containers and Coal were allotted berths at Multi-Purpose Terminal, Container Terminal and Bulk Terminal respectively on Thursday. Meanwhile three more ships, Xpree Euphrates, BBC Diamond and Ashley Lady carrying […]

Currency rates of NBP

KARACHI, Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Friday. CURRENCY SELLING BUYING USD 158.77 155.13 GBP 221.14 216.06 EUR 189.30 185.27 JPY 1.4410 1.4080 SAR 42.38 41.32 AED 43.24 42.51 […]

Foreign exchange rates

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

CCoE approves AEDB, PPIB merger

ISLAMABAD, The Cabinet Committee on Energy (CCoE) on Thursday approved the summary submitted by Power Division proposing merger of two institutions, Alternative Energy Development Board (AEDB) and Private Power and Infrastructure Board (PPIB). After detailed discussion, the committee recommended to submit the proposal for approval […]

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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