Pakistan News International

Business & Economy

FPCCI for taking stakeholders onboard to broaden tax base

LAHORE-The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has stressed the need for taking serious measures in close consultations with the real stakeholders to broaden tax base and improving tax-to-GDP ratio, as number of return filers have decline by more than 23 percent […]

Cars sale rises 40 per cent in November

ISLAMABAD-Sale of cars in the country increased by 40 per cent in November compared to same month of the preceding year. Sale of cars rose to 11,914 units in November compared to 8,524 units during same period of previous year. Sale of cars during first […]

Govt fails to present Textile Policy 2020-25 in ECC for approval

ISLAMABAD-The government has yet to present the Textile Policy 2020-25 in Economic Coordination Committee (ECC) of the Cabinet for approval despite the fact that Prime Minister Imran Khan has given approval in principle. In November, Prime Minister Imran Khan had approved Textile Policy 2020-25 for […]

CDA asked to focus on better development of industrial areas

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) on Saturday urged that Capital Development Authority (CDA) for taking measures to address all issues of the industrial areas of Islamabad on priority basis. It would help in promoting industrial activities and improving the regional economy, said […]

Rupee gains 15 paisas against US dollar

ISLAMABAD – The exchange rate of Pakistani rupee strengthened by 15 paisas against the US dollar in the interbank trading on Friday and closed at Rs160.13 as compared to the previous day’s closing of 160.28. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar […]

Gold price stable

ISLAMABAD-The price of 24 karat gold remained stable at Rs110,450 per tola on Friday, Karachi Sarafa Association reported. The prices of 10 grams gold also witnessed no change and was sold at Rs 94,693 while 22 karat gold was sold at Rs 86,802. The price of per […]

Taxpayers allowed to file tax returns after extension granted by CCIRs

ISLAMABAD   –   Federal Board of Revenue (FBR) has clarified that taxpayers’ are allowed under the law to file annual income tax returns after the completion of the extended period granted by the Chief Commissioners Inland Revenue (CCIR).  FBR has advised the taxpayers’ to […]

Govt committed to correct fundamentals of economy: Ministry

ISLAMABAD   –  The ministry of finance on Thursday said that government was firmly committed to correct the fundamentals of the economy through effective policy making and targeted reforms.  “The objective is to achieve sustainable and inclusive economic growth in the long run,” said ministry of […]

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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