Pakistan News International

Business & Economy

Rupee weakens

ISLAMABAD – The exchange rate of Pakistan rupee weakened by 10 paisas against the US dollar in the interbank trading on Monday and closed at Rs153.65 as compared to the previous day’s closing of Rs153.55. According to Forex Association of Pakistan, the buying and selling […]

Economy in much better condition than in 2018, claims Hammad Azhar

ISLAMABAD – Federal minister for Finance and Revenue, Hammad Azhar on Sunday said despite challenges, the economy of the country was in much better condition than it was back in 2018 when the incumbent government assumed the power. Talking in live call session along with […]

Oil refining policy being drafted for existing facilities’ upgradation

ISLAMABAD – The government is working on an extensive strategy for achieving self-reliance in the oil-refining sector by upgrading the country’s existing facilities and setting up new deep conversion facilities. For this purpose, a committee has already been formed, comprising representatives from all the stakeholders […]

ADB approves $300 million loan to build hydropower plant in Pakistan

ISLAMABAD-Pakistan has obtained another loan as this time Asian Development Bank (ADB) has approved a $300 million loan to finance the construction of a 300-megawatt hydropower plant that will increase the share of clean energy in Pakistan and improve the country’s energy security.  In last week, the International Monetary […]

Oil up over hopes of extension of current output cuts

Oil prices increased on Wednesday over hopes that major oil producers of OPEC+ will keep production levels unchanged for May and despite estimates of a build in US inventories. International benchmark Brent crude was trading at $64.52 per barrel at 0620 GMT for a 0.54% increase after […]

Zakat campaign of Shaukat Khanum Memorial Trust launched

LAHORE    –  In a press conference organised to launch the Zakat campaign of Shaukat Khanum Memorial Trust, Dr Muhammed Aasim Yusuf, Chief Medical Officer and acting Chief Executive Officer, revealed that the campaign for this year is entitled, “Our Children Insist on Living” which is an appeal […]

Rupee gains 55 paisas vs dollar

ISLAMABAD   –   The exchange rate of Pakistan rupee strengthened by 55 paisas against the US dollar in the interbank trading on Monday and closed at Rs154.03 as compared to the previous day’s closing of Rs154.58. According to Forex Association of Pakistan, the buying and selling […]

Wapda chief visits Diamer Bhasha Dam, Dasu Hydropower Project sites

LAHORE-Water and Power Development Authority (Wapda) Chairman Lt Gen (r) Muzammil Hussain on Thursday visited Diamer Bhasha Dam and Dasu Hydropower Project to review construction work. During his visit to Diamer Bhasha Dam being constructed on River Indus downstream of Chilas town in Gilgit Baltistan, the Wapda […]

IMF approves $500 mln disbursements for Pakistan under EFF

ISLAMABAD, :Acknowledging the satisfactory progress made by Pakistan, the International Monetary Fund approved $500 million disbursement for the country under the Extended Fund Facility (EFF), bringing the total budget support under the arrangement to about US$2 billion. “The Executive Board of the International Monetary Fund […]

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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