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Business & Economy

Ecnec okays projects worth Rs322.43b

Posted on by News Desk

ISLAMABAD    –  The Executive Committee of the National Economic Council (Ecnec) on Thursday approved development projects worth Rs322.43 billion related to the different sectors. Federal Minister for Finance and Revenue, Dr Abdul Hafeez Shaikh chaired meeting of the Ecnec. A summary was presented before Ecnec regarding Khyber […]

IOCO DG vows to resolve issues of businessmen

Posted on by News Desk

LAHORE   –  Input Output Co-Efficient Organization (IOCO) should set a criteria for the companies for quota allocation of raw material for LED lighting industry. The demand was raised during a meeting at the Lahore Chamber of Commerce & Industry on Thursday. Director General IOCO Ahmad […]

Oil prices up as US economy shows positive signs

Posted on by News Desk

Crude oil prices increased on Thursday on positive economic recovery signs in the US and with a large draw on the country’s fuel inventories. International benchmark Brent crude was trading at $68.28 per barrel at 0658 GMT for a 0.55% increase after closing Wednesday at $67.90 a […]

Gold price up by Rs500 per tola

Posted on by News Desk

ISLAMABAD – The price of 24 karat per tola gold increased by Rs 500 on Tuesday and was sold at Rs103,000 against sale at Rs102,500, Karachi Sarafa Association reported. The price of ten gram 24 karat gold also increased by Rs428 and was traded at Rs88,305 […]

USA, UK, China top 3 destinations of Pak exports in 7 months

Posted on by News Desk

ISLAMABAD-United States of America (USA) remained the top export destination of the Pakistani products during the seven months of financial year (2020-21), followed by United Kingdom (UK) and China. Total exports to the USA during July-January (2020-21) were recorded at $2680.250 million against the exports 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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