Pakistan News International

Business & Economy

FBR directed to finalise proceedings against non-compliant withholding agents

ISLAMABAD   –   Federal Tax Ombudsman Mushtaq Ahmad Sukhera has directed the Federal Board of Revenue (FBR) to initiate and finalise proceedings against non-compliant withholding agents under section 161, where default is established in terms of Section 165 of the Ordinance. According to press statement issued […]

LNG sector’s opening to revive CNG industry: Paracha

ISLAMABAD –   Central leader of All Pakistan Compressed Natural Gas Association (APCNGA) Ghiyas Abdullah Paracha said the government had laid the foundation of the CNG industry’s complete revival by allowing private sector players to participate in the Liquefied Natural Gas (LNG) business. “The present […]

SPI-based weekly inflation goes up by 0.81 per cent

ISLAMABAD   –  The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on February 11, for the combined consumption group, witnessed increase of 0.81 percent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded […]

Reckitt Benckiser to file appeal against CCP for passing order against Strepsils

ISLAMABAD   –  Reckitt Benckiser would file appeal against Competition Commission of Pakistan (CCP) for passing order against Strepsils Comfort for alleged deceptive marketing, The CCP has recently passed an order against Strepsils Comfort for alleged deceptive marketing. The Reckitt Benckiser is now going to appeal. “The discussions […]

SECP records major progress in information security standards

ISLAMABAD   –   The Securities and Exchange Commission of Pakistan (SECP) has achieved ISO/IEC 27001:2013 certification; the international standards outlining best practices for Information Security Management Systems (ISMS). Awarded by the independent certification body M/s. Resource Inspections Canada Incorporated (RICI), the certification showcases SECP’s […]

Bitcoin hits a new record, increasing to $48,481

Bitcoin has set a record jumping more than 8 percent to $48,481, continuing the upward trend after Tesla purchased $1.5 billion of the virtual currency. The latest surge brings it past its previous record of $47,387 after the popular crypto currency gained 5.7 percent. Earlier in the day, Elon […]

CCOE endorses proposed draft National Electricity Policy 2021

ISLAMABAD   –  The Cabinet Committee on Energy (CCOE) Thursday endorsed the proposed draft National Electricity Policy 2021, directing the Power Division to incorporate the agreed recommendations and submit the same to the Cabinet and CCI for final approval.  A meeting of the Cabinet Committee on Energy (CCOE) was held […]

FBR’s Policy Board decides to establish ‘Tax Policy Unit’

ISLAMABAD   –  Federal Board of Revenue (FBR)’s Policy Board on Thursday decided to establish ‘Tax Policy Unit’ to work out policy recommendations for domestic tax collection on the lines of the National Tariff Commission, which operates under the Ministry of Commerce. Tax Policy Unit would be under […]

Rupee gains 04 paisas against US dollar

ISLAMABAD -The exchange rate of Pakistani rupee strengthened by 04 paisas against the US dollar in the interbank trading on Wednesday and closed at Rs159.30 as compared to the previous day’s closing of Rs159.34. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates 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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