Pakistan News International

Business & Economy

Exports increases 5.98% to Rs1.254 trillion in 4 months

ISLAMABAD, :The exports from the country, in rupee term, increased by 5.98 percent during the first four months of the current fiscal year as compared to the corresponding period of last year. The exports during July–October (2020-21) were recorded at Rs1,254,813 million as against the […]

Weekly inflation goes up 0.24 pc

ISLAMABAD – Sensitive Price Indicator (SPI) based weekly inflation for the week ended on November 19, for the combined consumption group, witnessed increase of 0.24 per cent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at […]

Rupee loses 32 paisas against US dollar

ISLAMABAD- The exchange rate of Pakistani rupee weakened by 32 paisas against US dollar in the interbank trading on Monday and closed at Rs 161.04 against the previous day’s closing of Rs160.72. Meanwhile, according to Forex Association of Pakistan, the buying and selling rates of dollar in […]

Over 87,621 MT tea valuing $188.482 mln imported in 4 months

ISLAMABAD, :Over 87,621 metric tons of tea costing $188.482 million imported during first four months of current financial year as compared the imports of 60,879 metric tons valuing $142.571 million of corresponding period of last year.During the period from July-October, 2020-21, imports of tea into […]

Rice valuing $499.485 million exported in four months

ISLAMABAD, : About 838,770 metric tons of rice valuing $499.485 million exported during first four months of current financial year as compared the exports of 1,176,228 metric tons worth $633.797 million of corresponding period of last year. According the data of Pakistan Bureau of Statistics, […]

ECC approves $150 mln for purchase of COVID-19 vaccine

ISLAMABAD, :The Economic Coordination Committee of the Cabinet (ECC) Friday approved in principle, the provision of technical supplementary grant of US $150 million for the purchase of the COVID-19 vaccine. The Ministry of Health briefed the ECC that this would be the first phase of […]

Pakistan to cultivate way long benefits from construction of Dams: Khusro Bakhtyar

ISLAMABAD, : The National Coordination Committee on Foreign-Funded Projects (NCC-FFP) forum on Thursday reviewed progress of the development projects of Water Sector funded by World Bank, Asian Infrastructure Investment Bank, USA, France, Germany, Saudi Fund, Kuwait, and OPEC Fund for International Development (OFID). At present, […]

ADB reaffirms support for development agenda, COVID-19 response

ISLAMABAD, :The Asian Development Bank (ADB) Vice President, Shixin Chen reaffirmed ADB’s support for Pakistan’s development efforts and coronavirus disease (COVID-19) pandemic response during a series of virtual meetings with senior Pakistan government officials. According to an ADB press statement, in a series of meetings from […]

Pre-COVID-19 economy was on steady recovery, says SBP annual report

ISLAMABAD, :The State Bank of Pakistan (SBP) said Wednesday that following the difficult but necessary stabilization efforts during the first nine months of the fiscal year 2019-20, the country’s economy was well on course for a steady recovery on the eve of Covid-19 pandemic. The […]

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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