Pakistan News International

Business & Economy

SBP, banks to remain closed on Wednesday

KARACHI, Aug 08 : The State Bank of Pakistan (SBP) and all the banks and financial institutions will remain closed on Wednesday, August 14, 2024 on the occasion of Independence Day of Pakistan. The central bank, in a statement issued here on Thursday, announced, “The […]

Macroeconomic indicators on upward trajectory: Finance Minister

ISLAMABAD, Aug 08 : Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Thursday emphasized that Pakistan’s macroeconomic indicators were on an upward trajectory, leading to a growing public trust in the country’s economic management. In a meeting with a delegation of Meezan […]

Task Forces set up to bring reforms in power sector: Awais

ISLAMABAD, Aug 08 : Minister for Power Division Sardar Awais Ahmad Khan Leghari on Thursday said that on the directives of Prime Minister Shehbaz Sharif, Task Force on Implementation of Structural Reforms in Power Sector had been constituted to review all the aspects for improvement […]

Jazz accelerate partners with GSMA innovation fund to support high-potential startups

ISLAMABAD, Aug 07:Jazz, Pakistan’s leading digital operator, through its startup accelerator program ‘xlr8’, has partnered with the GSMA Innovation Fund to identify and support high-potential startups, especially in emerging technologies like artificial intelligence (AI), health, education, entertainment, and digital lifestyle. This strategic collaboration aims to […]

Gold rates dip by Rs. 500 per tola to Rs.255,500

ISLAMABAD, Aug 7 : The per tola price of 24 karat gold decreased further by Rs.500 and was sold at Rs.255,500 on Wednesday compared to its sale at Rs. 256,000 on last trading day. The price of 10 grams of 24 karat gold also decreased […]

Finance minister highlights initiatives to enhance economic growth, stability

ISLAMABAD, Aug 7 :Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Wednesday again highlighted the initiatives aimed at enhancing economic stability and promoting long-term growth. In a meeting with Ambassador of Finland to Pakistan, Hannu Ripatti, who called on him, the minister […]

Gold rates dip by Rs.500 per tola to Rs.256,000

ISLAMABAD, Aug 6 : The per tola price of 24 karat gold decreased by Rs.500 and was sold at Rs.256,000 on Tuesday compared to its sale at Rs.256,500 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs.428 […]

EXCHANGE RATES FOR CURRENCY NOTES

KARACHI, Aug 05:-Karachi (05-08-2024) CURRENCY SELLING BUYING USD 281.08275.62 GBP 359.70 352.68 EUR 307.18 301.74 JPY 1.9535 1.9149 SAR 74.91 73.43 AED 76.54 75.54 LIBOR LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDS LIBOR 1M 5.3505 LIBOR 3M 5.3624 LIBOR 6M 5.3910 US DOLLAR Indicative […]

Shipping Activity at Port Qasim

KARACHI, Aug 05 : Three ships, Sweet Lady-III, Corona and Maya Gas-1 scheduled to load/offload Rice, Palm oil and LPG, berthed at Grain Terminal, Liquid Terminals and Engro Vopak Terminal respectively on Sunday. Meanwhile five more ships, Rakan-5, Zhong Gu Bo Hai, Saehan Jasper, Leader […]

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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