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Business & Economy

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 […]

Rupee sheds 34 paisas against US dollar

Posted on by News Desk

ISLAMABAD-The exchange rate of Pakistani rupee weakened by 34 paisas against the US dollar in the interbank trading on Monday and closed at Rs160.47 as compared to the previous day’s closing of Rs160.13. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates […]

10 economic zones to be established in Rawalpindi

Posted on by News Desk

RAWALPINDI-Rawalpindi Development Authority (RDA) Chairman Tariq Mehmood Murtaza has said that 10 economic zones would be developed along Rawalpindi Ring Road (RRR) which would help boost economic activities in Rawalpindi region. Tariq Mehmood said that the incumbent government was well aware of the problems being […]

Govt procures LNG at four-year lowest rate

Posted on by News Desk

ISLAMABAD-The Petroleum Division (PD) on Sunday shared a comparative statement about the purchase of Liquefied Natural Gas (LNG) for a period from December-2017 to January-2021, which showed the government procured the commodity at the lowest rate for the current and next months. According to the statement placed […]

Govt managing debt with discipline: Finance Ministry

Posted on by News Desk

ISLAMABAD, : The finance ministry on Sunday clarified that the government had inherited a precarious debt situation which it managed with discipline, aggressive control of expenses and increase in tax and non-tax revenues. In a tweet, the ministry said, the government efforts yielded primary surplus […]

Gold prices up by Rs350 per tola

Posted on by News Desk

ISLAMABAD- The price of 24 karat gold increased by Rs350 on Saturday and was traded at Rs110,800 against its sale at Rs.110,450. The price of 10 grams gold also witnessed increase of Rs300 and was traded at Rs 94,993 against its sale at Rs 94,693 while 22 karat gold […]

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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