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Business & Economy

EXCHANGE RATES FOR CURRENCY NOTES

CURRENCY SELLING BUYING USD 160.99 157.31GBP 224.63 219.46EUR 194.56 190.89 JPY 1.5231 1.4882SAR 42.97 41.89AED 43.84 42.82 LIBOR LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDSLIBOR 1M 0.11100LIBOR 3M 0.18138LIBOR 6M 0.19775 US DOLLAR Indicative FBP Rates CURRENCY SIGHT/15 DAYS 1M 2M 3M 4M 5M […]

Currency rates of NBP

KARACHI: Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Friday: CURRENCY SELLING BUYINGUSD 160.99 157.31GBP 224.63 219.46EUR 194.56 190.89 JPY 1.5231 1.4882SAR 42.97 41.89AED 43.84 42.82 […]

Oil import bill shrinks by 20.90% to $5.64bn in 7 months

ISLAMABAD: The country’s oil import bill witnessed reduction of 20.90 percent during the first seven months of the current fiscal year as compared to the corresponding period of last year. The oil imports during July-January (2020-21) were recorded at $5640.751 million against the imports of […]

Country spends $4.6b on importing food commodities in seven months

ISLAMABAD-Pakistan has spent $4.6 billion on importing food commodities in seven months (July to January) of the current fiscal year (FY2020-21) to bridge the local shortages in the country. The country’s oil import has surged by 51.9 per cent to $4.6 billion in July to January period […]

Stock market loses 99 points

ISLAMABAD- The KSE 100-index of the Pakistan Stock Exchange (PSX) Wednesday lost 99.81 points, witnessing negative change of 0.21 percent, closing at 46,768.14 points against 46,867.95 points on the last working day. A total of 701,764,681 shares were traded during the day compared to the trade of 514,208,025 […]

National exchequer losing Rs140b every year due to cigarettes smuggling

LAHORE   –  Stop Illegal Trade (SIT) has welcomed the Prime Minister’s attention to the economic damage caused by the illegal trade of cigarettes in Pakistan. Stop Illegal Trade, an organisation working to curb illegal trade in Pakistan, welcomed Prime Minister Imran Khan’s directives to the Federal […]

Gold price up by Rs150 per tola

ISLAMABAD    –  The price of 24 karat per tola gold increased by Rs150 on Tuesday and was sold at Rs111,200 against sale at Rs111,050, Karachi Sarafa Association reported. The price of ten gram 24 karat gold also increased by Rs129 and was traded at Rs95,336 against Rs95,207 […]

World needs to explore economic potential of digitisation: EU Envoy

ISLAMABAD   –  European Union (EU) Ambassador to Pakistan, Androulla Kaminara on Sunday said that the world needed to explore economic potential of digitisation as it had changed the working of the global system due to its multi-dimensional impacts, including time efficiency and accuracy. She said […]

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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