Pakistan News International

Business & Economy

LCCI for uninterrupted gas supply for industry

LAHORE   –  The Lahore Chamber of Commerce & Industry on Tuesday called for continuous gas supply with full pressure to the industries. In a meeting with senior managers of SNGPL Ejaz Ahmad Chaudhry and Syed Jawad Naseem, LCCI Vice President Tahir Manzoor Chaudhry said that […]

Gold price up by Rs1300 per tola

ISLAMABAD   –   The price of 24 karat gold increased by Rs1,300 on Tuesday and was traded at Rs111,300 against its sale at Rs110,000 the previous day. Likewise, the price of 10 grams gold also increased by Rs. 1115 and was traded at Rs […]

Currency rates of NBP

KARACHI, :KARACHI, Dec 09 (APP): Following are the selling/buyingrates of major currencies issued by the National Bank of Pakistan(NBP), here on Wednesday. CURRENCY SELLING BUYING USD 162.41 158.70GBP 217.21 212.24EUR 196.86 192.36 JPY 1.5595 1.5238SAR 43.34 42.25AED 44.23 43.19 […]

Rupee loses 19 paisas

ISLAMABAD – The exchange rate of Pakistani rupee weakened by 19 paisas against the US dollar in the interbank trading on Monday and closed at Rs160.32 as compared to the previous day’s closing of Rs160.13.  Meanwhile, according to Forex Association of Pakistan, the buying and selling rates […]

Gold price decreases Rs300 per tola

ISLAMABAD – The price of 24 karat gold decreased by Rs300 on Monday and was traded at 110,000 against its sale at Rs 110,300 the previous day. Likewise, the price of 10 grams gold also decreased by Rs 257 and was traded at Rs 94,307 […]

FBR, PRA pushing industry to pay double tax

Lahore   –  The Friends of Business and Economic Reforms (FEBR) on Sunday called for harmonization between Federal Board of Revenue (FBR) and Punjab Revenue Authority (PRA) intending to avoid double taxation, as both tax collecting agencies have started sending notices to the industry to […]

Oil prices down amid fresh coronavirus restrictions

Oil prices were down on Monday as vaccine hopes were overshadowed by a worldwide surge in new COVID-19 cases amid fresh lockdowns in the US, Europe and Asia, which raised concerns over the outlook for crude demand. International benchmark Brent crude was trading at $49.09 per […]

Petroleum Division for avoiding sensationalism in gas sector

ISLAMABAD, :The Petroleum Division (PD) on Saturday explained the link between Japan Korea Marker (JKM) and Brent pricing of the LNG, asking a certain media house to focus on the core issue of legal reforms and avoid sensationalism in the gas sector. “This is in […]

SSGC to meet increased gas demand with additional RLNG injection

ISLAMABAD    –  The Sui Southern Gas Company (SSGC), which is mainly responsible for supplying gas in Sindh and Balochistan provinces, has evolved an effective strategy to meet the increased commodity demand during the peak winter season by injecting additional RLNG in its transmission network. “This year, around 160 […]

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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