Pakistan News International

Business & Economy

Bank deposits are completely safe: SBP

Posted on by Hooriya Qureshi

ISLAMABAD, Oct 05 (Online): State Bank of Pakistan (SBP) has said bank deposits are completely safe. The bank said banking system in Pakistan is stable and deposits are secure under robust regulatory and monitoring framework. The SBP said in an explanatory statement the profit in […]

Jazz Spreads Smiles at Alkhidmat’s Aghosh Orphanage

Posted on by News Desk

Lahore, 4 October 2023 – To reaffirm its purpose of improving the lives and livelihoods of Pakistani people, a team from Jazz on Wednesday paid a courtesy visit to Alkhidmat Foundation’s Aghosh Orphanage in Sheikhupura. The visit reaffirmed Jazz’s unwavering support for the Aghosh Homes […]

Cotton arrivals cross 5m bales, making a 71pc yearly growth

Posted on by News Desk

Islamabad, October 3, 2023 (Online): A milestone in Pakistan’s cotton sector was reached as cotton arrivals for the year 2023 exceeded expectations, demonstrating remarkable growth in production. Cotton arrivals as of September 30, 2023, soared to an impressive 5.0 million bales, representing an astounding 71% […]

SECP publishes latest statistics of insurance industry

Posted on by News Desk

ISLAMABAD, October 2 (Online): The Securities and Exchange Commission of Pakistan (SECP) has published the latest statistics, providing a comprehensive assessment of the insurance industry’s financial performance. These much-needed statistics, offering insights into 2022 data, are critical for the diverse stakeholders to make informed decisions […]

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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