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Business & Economy

MPs express displeasure over absence of Hafeez from NA body meeting

ISLAMABAD – Members of the National Assembly Standing Committee on Finance and Revenue on Tuesday expressed displeasure over the absence of Finance Minister Abdul Hafeez Shaikh from the committee meeting. Committee member Nafeesa Shah said that finance minister should have attended the committee’s meeting instead of […]

FBR hold tax awareness session in Rawalpindi college

ISLAMABAD – In continuation of holding Tax Awareness Educational Sessions in different educational institutes under Directorate of Federal Government Educational Institutions Cantt Garrison, Ministry of Defense, Federal Board of Revenue (FBR) held a session in F.G Post Graduate College for Women, Kashmir Road, Rawalpindi. Different activities […]

Local LPG price up by Rs21.78 per 11.8-kg cylinder

ISLAMABAD – Oil and Gas Regulatory Authority (OGRA) on Monday issued a price-revision notification of liquefied petroleum gas (LPG) for the month of March. According to the notification, the authority increased the locally produced LPG price by Rs 21.78 per cylinder of 11.8 kilograms. After the revised price, […]

Exports cross $2 billion mark for fifth consecutive month

ISLAMABAD – For the fifth consecutive month, Pakistan’s exports have crossed $2 billion mark in February that would help in maintaining foreign exchange reserves. “Ministry of Commerce would like to share that, Alhamdolillah, for 5th consecutive month, our exports have crossed the USD 2 billion mark,” said Adviser to […]

OGDCL spending Rs10.22 million in Lakki Marwat under CSR initiative

ISLAMABAD-The Oil and Gas Development Company (OGDCL) is spending an amount of Rs10.22 million, under its Corporate Social Responsibility (CSR), in Lakki Marwat district of Khyber Pakhtunkhwa (KP). “The Wali, Mianwali and Pezu blocks partially fall in district Lakki Marwat, and the Oil and Gas Development Company […]

Govt releases Rs63,978.21 million for water projects so far

ISLAMABAD- The government has released a sum of Rs63.978.216 million for various water resource projects under annual Public Sector Development Programme (PSDP) for fiscal year 2020-21 so far. According to the data of Planning Commission, an amount of Rs79,380.563 million was allocated for various water […]

FCCU holds Commencement 2020 virtually

LAHORE-A prestigious ceremony of virtual commencement of Forman Christian College (A Chartered University) was heldon Saturday, 27 February at 11:00 AM in which 876 students graduated. 23 Baccalaureate and 16 Postgraduate students were awarded different medals. Two honourary PhD degrees were awarded to Dr James […]

Eight-month revenue collection of Rs2,916 billion exceeds target: FBR

ISLAMABAD-The Federal Board of Revenue (FBR) has collected revenues of Rs.2916 billion during the first eight months (July-February) of current year, exceeding the target of Rs2,898 billion set for the period. As compared the same period of last year, the collection witnessed growth of about 6 percent […]

Govt encouraging indigenous production of mobile phones

ISLAMABAD-Minister for Information Technology and Telecommunication Syed Amin ul Haque has said that the government is encouraging the cellular companies to manufacture and assemble mobile phones in the country aimed at bringing down the increased prices of cell phones. “We want that our people can buy a […]

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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