Pakistan News International

Business & Economy

IT sector key to economic growth: Finance Minister

Posted on by Tuba Zafar

ISLAMABAD, Dec 13 :Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Friday underscored the IT sector’s critical role as a rapidly growing industry contributing to Pakistan’s economic growth. “The IT sector has the potential to be a cornerstone of foreign exchange generation […]

PSX stays bullish, gains more 3,370 points

Posted on by Tuba Zafar

ISLAMABAD, Dec 12 : The 100-Index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Thursday, gaining 3,370.29 points, a positive change of 3.04 percent, closing at 114,180.51 points as compared to 110,810.22 points on the last trading day.Pakistan’s cuisine A total of […]

MOL celebrates 25 years of success in Pakistan

Posted on by News Desk

Islamabad December 11: MOL Pakistan, a leading stakeholder in Pakistan’s energy sector celebrated its 25th anniversary of operations in the country the other day. The occasion commemorated the company’s role and achievements not only in building the country’s Exploration & Production sector and contributing to […]

ADB scales up support for social protection program

Posted on by Tuba Zafar

ISLAMABAD, Dec 11 :The Asian Development Bank (ADB) has approved $330 million in additional financing to strengthen Pakistan’s federally administered social protection programs and services. The result-based loan for the ongoing Integrated Social Protection Development Program (ISPDP) will help expand the grassroots-level social protection to […]

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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