Pakistan News International

Business & Economy

Oil prices up on Brexit deal, US relief pack hopes

Oil prices were up on Friday amid limited trading before Christmas, but the upcoming Brexit deal and hopes of President Donald Trump signing off on the US relief package also supported prices. During weak pre-Christmas trading, international benchmark Brent crude traded at $51.37 per barrel at 0648 GMT […]

SECP approves first Peer-to-Peer lending platform

ISLAMABAD-The Securities and Exchange Commission of Pakistan (SECP), in pursuance of its reforms agenda to support and encourage Fintech revolution in the country, has approved the launch of Pakistan’s first Peer-to-Peer (P2P) lending platform.the&locale=en_US&sdk=joey Finja, venture capital-backed fintech secured the approval under the first cohort of SECP’s […]

FBR issues refunds of Rs144 bln till December

ISLAMABAD, The Federal Board of Revenue (FBR) has issued refunds to the tune of Rs144 billion from July to December 2020 against only Rs76 billion during the same period of last year, showing an increase of 89 percent. According to press release issued by the […]

CCoP approves transaction structure for PSMC

ISLAMABAD, :The Cabinet Committee on Privatization (CCoP) here on Thursday approved the Transaction Structure for Pakistan Steel Mills Corporation (PSMC). Federal Minister for Finance and Revenue Dr Abdul Hafeez Shaikh chaired the meeting of the Cabinet Committee on Privatization (CCoP), according to a Finance Ministry […]

Gold price up by Rs250 per tola

ISLAMABAD – The price of 24 karat gold on Tuesday witnessed an increase of Rs.250 and was traded at Rs.112,750 against its sale at Rs. 112, 500 the previous day. Likewise, the price of ten-gram gold also increased by Rs.214 and was sold at Rs.96,665 compared to […]

Oil prices down over pandemic-driven demand fears

Oil prices fell on Wednesday with the new strain of COVID virus in the UK casting doubts over prompt oil demand recovery, while an estimated rise in US crude stocks also fuels these doubts. International benchmark Brent crude was trading at $49.34 per barrel at 0620 GMT […]

Provincial govts directed to strictly monitor eggs, ghee prices

ISLAMABAD   –   Federal Minister for Finance and Revenue Dr Abdul Hafeez Sheikh on Monday noted the increase in prices of eggs and vegetable ghee and urged the provincial governments to strictly monitor their prices. He directed the Secretary Commerce to call a meeting […]

Govt committed to correcting fundamentals of economy: Hafeez

ISLAMABAD   –  Federal Minister for Finance and Revenue Dr Abdul Hafeez Shaikh on Monday emphasised that the government is firmly committed to correcting the fundamentals of the economy through effective policy making and targeted reforms with the objective to achieve sustainable and inclusive economic growth […]

Afghan delegation to visit Pakistan to hold talks on PTA, APTTA

ISLAMABAD   –  A delegation from Afghanistan will visit Pakistan from December 28 to 30 to hold talks on the preferential trade agreement (PTA), Afgan Pakistan Transit Trade Agreement (APTTA) and establishment of Joint Border Markets (JBMs). Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood […]

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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