Pakistan News International

Business & Economy

Oil prices soar over attack on Saudi oil facilities

Oil prices shot up to breaknew records on Monday following tensions between Saudi Arabia and Yemen, and with the US Senate passing the $1.9 trillion COVID-19 relief bill. International benchmark Brent crude was trading at $70.54 per barrel at 0715 GMT for a 1.70% increase after […]

Maritime Affairs ministry working on improving efficiency of ports

LAHORE   –  More than eight per cent growth in textile exports during first seven months (July 2020 to Jan 2021) of ongoing fiscal year is quite impressive despite the negative impact of COVID-19, as the export-oriented sector continues to attract new investments to create jobs and […]

SECP makes legal, structural reforms for transparent capital market

ISLAMABAD   –  Securities and Exchange Commission of Pakistan (SECP) has made significant capital market reforms featuring legal, structural, regulatory, operational and product development initiatives which were helping in development of a robust and transparent capital market in the country. “In order to enhance security of investor’s […]

Gold price down by Rs200 per tola

ISLAMABAD    –  The price of 24 karat per tola gold decreased by Rs 200 on Saturday and was sold at Rs102,550 against sale at Rs102,750, Karachi Sarafa Association reported. The price of ten gram 24 karat gold also decreased by Rs172 and was traded […]

Pakistan tops in providing low-priced petroleum products among regional countries

ISLAMABAD    –  Despite financial constraints and substantial increase in the prices of petroleum products at the international market, the Pakistan Tehreek-i-Insaf (PTI) government has not passed on its impact to the common man by maintaining the rates at lowest level as compared to regional countries. Pakistan is […]

SBP launches innovative programme of end-to-end digitisation

LAHORE-State Bank of Pakistan (SBP) has launched an innovative programme of end-to-end digitisation to ensure expeditious handling of the foreign exchange proceeds. This was stated by Sarfraz Ahmad Nadeem, Chief Manager SBP Faisalabad, while addressing an awareness session on “End-to-End Digitalization on FX cases” Wednesday while Shakeel […]

SECP striving to create efficient, transparent business ecosystem

ISLAMABAD – Chairman of Securities and Exchange Commission of Pakistan (SECP) Aamir Khan said that the apex regulator has been continuously striving to create an efficient and transparent business ecosystem in Pakistan, by ensuring that its policies and decisions conform to values of objectivity, integrity and […]

Textile exporters for duty free import of cotton yarn

KARACHI – Chairmen of various value-added textile associations on Tuesday once again called for abolishment of customs and regulatory duties on import of cotton yarn and imposing ban on the export of cotton yarn of 30 single or below till June 2021 to cover the demand and […]

Govt collects Rs679 billion PDL during last three years

ISLAMABAD – The federal government has collected around Rs679 billion on account of the Petroleum Development Levy (PDL) during the last three years to meet the country’s budgetary revenue targets. The petroleum levy collection stood at Rs179 billion in the fiscal year 2017-18, Rs206 billion […]

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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