Pakistan News International

Business & Economy

Gov’t releases Rs 289.71 bn for development projects

ISLAMABAD, : The federal Government has so far authorized release of Rs 289.71 billion against total allocation of Rs 650 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2020-21. Under the development programme, the government has […]

Exports back to pre-Covid-19 level: Razak Dawood

ISLAMABAD, :Advisor to Prime Minister on Commerce, Razzak Dawood said Monday that exports of the country were back on track to pre-Covid-19 levels. In a tweet, the advisor said that the exports from the country maintained the growth trend in October 2020 and crossed the […]

Opening early helped Pakistan boost exports during pandemic: Bloomberg

ISLAMABAD, : Pakistan’s decision to loosen pandemic restrictions early has helped the country’s exports emerge stronger than its South Asian peers, Bloomberg reported Saturday. Quoting data, Bloomberg in a report said, the outbound shipments have grown at a faster pace than Bangladesh and India as […]

Govt slashes petrol prices by Rs 1.57 per litre

ISLAMABAD, : The government on Saturday decided to reduce the petrol prices by Rs 1.57 per litre to Rs 102.40 per litre against its sale at Rs 103.97 per litre during the month of October 2020. The new prices would be applicable from November 1st, […]

ECC approves ‘PM’s Package for Rabi Crops-Specially Wheat’

ISLAMABAD   –  The Economic Coordination Committee (ECC) of the Cabinet on Thursday has approved the “PM’s Package for Rabi Crops-Specially Wheat”. Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh chaired the special meeting of the ECC to approve the “PM’s Package for […]

CCOE directs for implementing reform measures to minimize circular debt

ISLAMABAD,:The Cabinet Committee on Energy (CCOE) Thursday directed the Power Division to workout detailed projections and mitigation strategies for circular debt build up as well as monitor the implementation progress of the reform measures to minimize the circular debt buildup in the power sector.The meeting […]

TCP imports sugar at most competitive rates: Hammad Azhar

ISLAMABAD, :Federal Ministries of Industries and Production, Hammad Azhar said Wednesday that Trading Corporation of Pakistan (TCP) had imported sugar at the most competitive rates from the international market without any involvement of government. In a tweet, he said that the sugar would be sold […]

ECC in principle approves tax relief for telecom sector

ISLAMABAD, :The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved in principle the proposal aimed at facilitating the telecom sector by the waiver of certain taxes. “In order to facilitate the Telecom sector by the waiver of certain taxes, ECC decided that the proposal […]

ECC proposes Rs1600 per 40kg wheat support price

ISLAMABAD, :The Economic Coordination Committee (ECC) of the Cabinet Monday decided to propose to the cabinet Rs 1600 as minimum support price (MSP) per 40 kilogram for the upcoming wheat crop 2020-2021. The cabinet committee, meeting of which was chaired by Adviser to the Prime […]

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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