Pakistan News International

Business & Economy

Smeda CEO seeks suggestions from private sector for new SME Policy

LAHORE – Chief Executive Officer of Small & Medium Enterprises Development Authority (SMEDA) Hashim Raza has sought suggestions from the private sector for formulation of new SME Policy. Speaking at a ceremony at Lahore Chamber of Commerce & Industry on Saturday, he said that Prime Minister Imran […]

Gold price falls by Rs1300 per tola

ISLAMABAD- The price of 24 karat gold decreased by Rs1300 per tola and was sold at Rs113,300 on Saturday against its sale at Rs114,600 the previous day, Karachi Sarafa Association reported. Providing market details, it said the price of ten gram 24 karat gold also […]

ECC to discuss Textile and Apparel, Freight and Logistics Policies next week

ISLAMABAD-The Economic Coordination Committee (ECC) of the Cabinet is likely to discuss the Textile and Apparel Policy (2020-25) and National Freight and Logistics Policy (NFLP) next week. The ECC, in last week’s meeting, had deferred Textile and Apparel Policy (2020-25) and National Freight and Logistics […]

Govt working hard for promotion of IT industry

ISLAMABAD   –  Ministry of Information Technology and Telecom Secretary Shoaib Ahmed Siddiqui said that the government is working hard for the promotion of the IT industry. He made these remarks while addressing at the inaugural ceremony of Fazal Software Technology Park at I-9 Industrial Area, […]

Gold prices decrease by Rs1,300/tola

ISLAMABAD   –   The price of 24 karat gold decreased by Rs1,300 per tola and was sold at Rs115,300 on Thursday against its sale at Rs116,600, the previous day, Karachi Sarafa Association reported. Providing market details, it said the price of ten-gram 24 karat gold also […]

Rupee gains 28 paisas against US dollar

ISLAMABAD    –   The exchange rate of Pakistani rupee strengthened by 28 paisas against the US dollar in the interbank trading on Thursday and closed at Rs160.01 as compared to the previous day’s closing of Rs160.29.  Meanwhile, according to Forex Association of Pakistan, the […]

Bitcoin sets new all-time record by hitting $40,000

The world’s most popular cryptocurrency set its previous historical record earlier in the day when it exceeded $39,000. Bitcoin has set another all-time record by hitting $40,000 for the first time, trading data shows. ​​Earlier in the day, its value was reported at $39,000. Bitcoin […]

ECC approves import of additional wheat

ISLAMABAD-The Economic Coordination Committee (ECC) of the Cabinet on Wednesday has approved the import of additional wheat to buffer up stocks till the arrival of fresh crop. The ECC meeting, which was chaired by Federal Minister for Finance and Revenue Dr. Abdul Hafeez Shaikh, discussed […]

Govt procures 30pc additional LNG at cheapest-ever price for January

ISLAMABAD-The Pakistan Tehreek-i-Insaf (PTI) government has procured almost 30 per cent additional Liquefied Natural Gas (LNG) for the current month as compared to the same period of 2018, the last year in the government of the Pakistan Muslim League-Nawaz (PML-N). “Pakistan will be moving 30 per cent […]

FBR urged to revise mandatory filing of taxpayers’ profiles

ISLAMABAD – Islamabad Chamber of Commerce and Industry (ICCI) has called upon the Federal Board of Revenue (FBR) to revise its policy for mandatory update of taxpayers’ profiles as it has created additional difficulties the business community. They said that it was discouraging the potential taxpayers from […]

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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