Pakistan News International

Business & Economy

Mega development package to be worked out soon: Asad Umar

HYDERABAD, :Federal Minister for Planning, Development and Special Initiatives Asad Umar Saturday said a mega development package for the city on the lines of the Karachi package would be worked out soon. “We have discussed the projects required for development of Hyderabad during my today’s […]

World Bank to support Pakistan through IDA during COVID crisis

ISLAMABAD, :The World Bank has appreciated Pakistan government’s reform agenda in various sectors and reiterated commitment to support Pakistan through International Development Association (IDA) 2020 during COVID-19 crisis. The commitment was made during a virtual meeting of Adviser to the Prime Minister on Finance Dr. […]

Consultative meeting discusses economic aspects of COVID-19

ISLAMABAD, : Health Services Academy and Population think tank has arranged an international consultative meeting on economic aspects of COVID-19 in Pakistan. The meeting was attended by international technical experts and high level federal and provincial government officials to share evidence and highlight efforts to […]

Mobile phone imports increase 83.17 % in Q1

ISLAMABAD, : The import of mobile phones into the country has witnessed an increase of 83.17 percent during the first quarter (Q1) of financial year (2020-21) as compared to the corresponding period of last year. Pakistan imported mobile phones worth US $492.894 million during July-September […]

PM links country’s prosperity with industrial development

ISLAMABAD, : Prime Minister Imran Khan Wednesday said that country’s prosperity was dependent upon industrial development and stressed upon provision of all facilities to this sector. The prime minister further underlined the need for resolution of issues being faced by the industrial sector, especially the […]

ECC approves Technical Supplementary Grants of Rs17 bln

ISLAMABAD, : Economic Coordination Committee (ECC) of the Cabinet here on Wednesday approved two Technical Supplementary Grants for the Ministry of Defence for Rs.17 billion during the current financial year. The ECC which met with Adviser to the Prime Minister on Finance Dr Abdul Hafeez […]

SBP Governor inaugurates polyculture forest, museum laboratory

KARACHI, :State Bank of Pakistan (SBP) Governor Dr. Reza Baqir has inaugurated the polyculture forest and museum at Pakistan Security Printing Corporation, Karachi. He was given a detailed briefing on the project by the management. The polyculture forest is inspired by the incumbent government’s priority […]

Pharmaceutical products exports increase record 22.60%

ISLAMABAD, : Pharmaceutical products exports during First three months of current fiscal year grew by 22.60 per cent as compared to the exports of the corresponding period of last year. During the period from July-September, Pharmaceutical products worth US $ 68,176 thousand were exported as […]

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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