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Business & Economy

FPCCI rejects IMF loan revival on harsh term of power tariff hike

LAHORE-The Pakistan’s apex chamber has rejected the government’s move of raising energy cost by up to 30% before the end of this calendar year to qualify for restoration of the stalled $6 billion IMF loan programme, as it has just notified the power tariff increase […]

Pakistan to achieve economic goals through CPEC completion: Qaiser

ISLAMABAD – Speaker National Assembly Asad Qaiser yesterday said completion of CPEC would help Pakistan to achieve its economic and industrial goals, besides extending benefits of the Corridor to region.  “Pakistan is proud of its decades-old all-weather unique friendship and strategic partnership with China and […]

Pakistan, Russia to establish North-South gas pipeline project

Islamabad – Pakistan and Russian Federation have agreed to establish a special purpose company, namely Pakistan Stream Pipeline (Pvt.) Ltd for the execution of North-South gas pipeline project, it is learnt reliably here. The matters pertaining the new company and the start of execution work […]

Govt set to merge PLTL, PLL into sole autonomous company

Islamabad-The government is all set to merge Pakistan LNG Terminals Limited (PLTL) and Pakistan LNG Limited (PLL) into a single autonomous company on January 1, 2021, it is learnt reliably here. It has been planned that instead of two companies doing the same job separately, should be […]

Gold prices increase Rs100/tola

ISLAMABAD – The price of 24 karat gold on Monday witnessed an increase of Rs100 and was traded at Rs113,450 against its sale at Rs113,350  the previous day. Likewise, the price of ten-gram gold also increased by Rs85 and was sold at Rs97,265 compared to […]

Over 2.3m olive plants to be cultivated during current drive

ISLAMABAD-To promote olive farming on large scale for reducing the reliance on imported edible oil as well as to encourage high-value agriculture, about 2.3 million olive plants to be cultivated during the current season. These plants to be cultivated under current autumn olive cultivation drive across the potential […]

Electricity rates raised again by Rs0.18 per unit

Islamabad – Upward trend in the electricity rates continue as the government has once again increased the power tariff of XDISCOS by Rs 0.18 per unit for the second and third quarters of 2019-20. The electricity tariff has been increased by Rs. 0.15 per unit while an […]

Kiwis continue to dominate first Test

MOUNT MAUNGANUI-A brilliant display of batting from the Black Caps saw them to a solid first-innings total on day two of the Boxing Day Test in Mount Maunganui. A century from skipper Kane Williamson, along with important contributions from Ross Taylor (70), Henry Nicholls (56) […]

Cristiano Ronaldo wins player of century award in Dubai

Cristiano Ronaldo was named player of the century on Sunday at the Dubai Globe Soccer Awards. Defeating Barcelona’s Leo Messi and Liverpool’s Mohamed Salah, Ronaldo was voted best player of the 2000s by a 23-person jury, including coaches and former players and worldwide fan votes. […]

Pakistan’s trade with Africa reaches $4.18 billion in 2019-20: Razak Dawood

ISLAMABAD-Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Sunday said Pakistan’s trade with African countries touched $4.18 billion in 2019-20, which increased by seven percent as compared to the previous year (2018-19). As a result of Pakistan’s new engagement with African […]

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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