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Business & Economy

Inflation to come down from July, says Tarin

ISLAMABAD, Explaining that the current upward trend in inflation was due to an increase in food prices, Federal Minister for Finance and Revenue, Shaukat Tarin said Thursday that inflation would start coming down from July this year. In an interview with a private television channel […]

Subsidies to export-oriented industry linked with performance

ISLAMABAD, The government on Thursday decided that subsidies to the export oriented sector in the upcoming budget for the next fiscal year (2021-22), would be given on the basis of actual consumption/accrual, while more targeted approach for disbursement would be adopted. The decision was made […]

Gold imports fall by 40.39pc in 10 months

ISLAMABAD, The gold imports decreased by 40.39 percent during the first ten months of the current fiscal year as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The gold imports into the country during July-April (2020-21) were recorded at […]

Fruits exports increased record 1.15% in 10 months

ISLAMABAD, Fruits exports during first ten months of FY 2020-21 grew by 1.15 per cent as compared to the exports of the corresponding period of last year. During the period from July-April 20-21, Fruits worth US $ 393,216 thousand exported as compared to worth US […]

Petroleum sector projects get Rs1,339.589 million in 11 months

ISLAMABAD, The government has so far provided funds amounting to Rs1,339.589 million during the current fiscal year to execute petroleum sector projects under the Public Sector Development Programme (PSDP 2020-21). According to the official data as of May 21 that showed a slight readjustment in […]

Rice worth $1.794 billion exported in 10 months of FY2020-21

ISLAMABAD, Over 3.198 million metric tons of rice valuing $1.794 billion exported during 10 months of current financial year as compared the exports of 3.526 million metric tons worth $1.817 billion of the corresponding period of last year. During the period from July-April, 2020-21, exports […]

Local wheat stocks beefed up to 5.750 million metric tons

ISLAMABAD, After harvesting historic high wheat crop, the strategic grains reserves of the country further beefed up and crossed 5.750 million tons mark, besides the procurement drive for current season also entered into its final stage across the crop producing areas in the country. The […]

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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