Pakistan News International

Business & Economy

Provinces asked to streamline wheat supply

ISLAMABAD-Federal Minister for Finance & Revenue Dr Abdul Hafeez Sheikh on Monday has directed the provincial governments to follow a self-sustaining model and streamline the daily release of wheat to ensure a steady supply in the provinces as well as districts. He made these remarks while chairing […]

CDNS reaches net target of Rs430 billion

ISLAMABAD -The Central Directorate of National Savings (CDNS) has reached the free deposit of Rs 430 billion in last six months from July 01 to December 31st  current  Fiscal Year (FY) 2020-21. The Central Directorate of National Savings (SDNS) has compensated an amount of Rs 440 […]

FBR asked to brief MPs regarding annual tax collection target

ISLAMABAD-National Assembly Standing Committee on Finance and Revenue on Monday has directed the Federal Board of Revenue (FBR) to prepare a comprehensive presentation with way forward for achieving annual tax collection target during the current fiscal year. The FBR has termed the annual tax collection […]

NBP Exchange Rates

KARACHI, : Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT BuyingU.S DOLLAR USD 160.65 160.15EURO EUR 195.22 194.61 JAPANESE YEN JPY 1.5481 1.5433BRITISH POUND GBP 219.86 219.17SWISS FRANC CHF 180.83 180.27 CANADIAN […]

Meeting of Advisory Committee for release of NGMS spectrum held

ISLAMABAD   –  Federal Minister for Finance and Revenue, Dr Abdul Hafeez Shaikh, chaired the meeting of the Advisory Committee for the release of Next Generation Mobile Services (NGMS) spectrum in Pakistan held at the Finance Division. Federal Minister for Science and Technology Fawad Chaudhry, Federal […]

EET transports over 20 MMT LNG, handles 322 cargoes since 2015

Islamabad-The first Liquefied Natural Gas (LNG) terminal of Pakistan Engro Elengy Terminal (EETL) has completed the transfer of over 20 million metric tonnes of LNG since 2015, by handling over 322 cargoes. This is the highest volume handled by any floating LNG terminal in this time frame. […]

Pak economy to witness modest 1.5 per cent growth in FY2021: Moody’s

ISLAMABAD-Moody’s Investors Services (Moody’s) has noted that economic activity in Pakistan would remain below pre-outbreak levels, although the economy should return to a modest 1.5 per cent growth in fiscal 2021. Moody’s in its latest report “Pakistan banks face slow economic recovery, but solid funding […]

Rupee gains one paisa

ISLAMABAD   –   The exchange rate of Pakistani rupee strengthened by 1 paisa against the US dollar in the interbank trading on Tuesday and closed at Rs160.37 as compared to the previous day’s closing of Rs160.38. Meanwhile, according to Forex Association of Pakistan, 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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