Pakistan News International

Business & Economy

Jazz Invests PKR 20.6 Billion in 2023 Despite Macroeconomic Challenges

ISLAMABAD: Despite a remarkable 27 percent year-on-year (YoY) growth in overall revenues in the local currency, Jazz’s revenue declined by 3.5 percent in USD terms during the third quarter of 2023. This downturn was primarily attributed to a 31 percent YoY devaluation of the Pakistani […]

Sugar Advisory Board to meet on Nov 21, Gohar Ijaz on chair

ISLAMABAD Nov 19 (Online): The important meeting of the Sugar Advisory Board has been convened on November 21, the meeting will be chaired by the Federal Minister for Industries and Production Gohra Ijaz. According to the sources, it is likely that the issue of sugar […]

Need urged for broadening tax base

ISLAMABAD, Nov 19 (APP): Coordinator to Minister of State and Federal Tax Ombudsman Meher Kashif Younis Sunday emphasized the critical need for broadening the tax base by targeting tax evasion in Pakistan. Speaking at a round table conference themed “Impact of broadening tax base on […]

PSA aims to propel country towards 60% renewable electricity by 2030

Lahore, November 17, 2023: The Pakistan Solar Association (PSA) Chairman Amir Chaudhry has said that they are thrilled to announce their commitment to collaborate with the Government of Pakistan in realizing the ambitious vision of achieving 60% renewable electricity by 2030. Addressing an event titled […]

JazzCash and Fatima Gobi Ventures Team Up to Boost Startups in Pakistan

Islamabad, November 17: JazzCash, Pakistan’s leading FinTech platform and Pakistan’s most active venture capital (VC) company, Fatima Gobi Ventures (FGV) announced a strategic partnership that is poised to have a massive impact on advancing the growth of startups and budding businesses in the country. Formerly […]

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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