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Business & Economy

OGRA dismisses inquiry reports on oil crisis

Posted on by News Desk

Oil and Gas Regulatory Authority (OGRA) has rejected the inquiry report of the Commission on Oil Crisis, OGRA has decided to reach all forums against the report. The Oil and Gas Regulatory Authority has announced to challenge the inquiry report on the oil crisis and […]

Gold price increases by Rs550 per tola

Posted on by News Desk

ISLAMABAD   –  The price of 24 karat gold increased by Rs 550 on Thursday and was traded at Rs112,300 against its sale at Rs 111,750. The prices of 10 grams gold also witnessed an increase of Rs 472 and was traded at Rs 96,280 against […]

SECP establishes first ever Business Centre

Posted on by News Desk

ISLAMABAD-While rigorously pursuing its objective of providing ease of doing business, the Securities and Exchange Commission of Pakistan (SECP) has established its first-ever Business Centre for swift incorporation of companies and to respond investor’s requests for information and queries instantly. The Business Centre is located at […]

PM Khan directs to increase financial assistance to SMEs

Posted on by News Desk

Prime Minister Imran Khan has stressed for promoting small and medium enterprises (SMEs) to improve the economic indicators which are already on positive trajectory. He was chairing a meeting of National Coordination Committee on Small and Medium Enterprises in Islamabad on Thursday. The Prime Minister directed to achieve at […]

Pakistan, World Bank sign loan agreement worth $304 million

Posted on by News Desk

ISLAMABAD-Pakistan and World Bank on Wednesday have signed a loan agreement for “Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE)” worth $304 million. Ministry of Economic Affairs Secretary Noor Ahmed, signed the loan agreement on behalf of the Government of Pakistan while the representative of Government of […]

ECC approves policies for mobile device, electric vehicle manufacturing, removes 4% tax on local phone production

Posted on by News Desk

ISLAMABAD, : The Economic Coordination Committee (ECC) on Wednesday approved different policies pertaining to Mobile Device Manufacturing, Electric Vehicles, New Re-lending-2020 in addition to removal of 4 percent tax on locally manufactured phones and issuance of offshore Pakistan Rupee-linked Bonds to the International Finance Corporation […]

Prices of basic food commodities declining, claims NPMC

Posted on by News Desk

ISLAMABAD- National Price Monitoring Committee (NPMC) on Monday noted that prices of basic food commodities are showing decline due to the policies of the incumbent government. Finance Minister Dr Abdul Hafeez Sheikh chaired a meeting of NPMC yesterday. The National Price Monitoring Committee (NPMC) reviewed the […]

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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