Pakistan News International

Business & Economy

SITE President Terms gas rate hike unviable for SMEs

KARACHI: President, SITE Association of Industry Muhammad Kamran Arbi, has termed the current gas rate hike disastrous & unviable for SMEs (Small & Medium Enterprises) that form the backbone of Industrial production. He further said that the current economic situation does not have room for […]

Daraz Prioritises Customer Trust: Extends Return Policy to 14 Days

[Lahore, October 31, 2023]: Daraz, the leading online shopping platform in Pakistan, has announced a customer-oriented policy change that extends its return timeline for Marketplace products from 7 days to 14 days, emphasizing its commitment to enhancing customer satisfaction. This policy adjustment aims to make […]

Govt controls inflation with a better strategy

KARACHI Oct 29 (Online): Caretaker Finance Minister Dr. Shamshad Akhtar has said that the tax collected by FBR in the first quarter of the current fiscal is more than the target of IMF and during this period the IMF program effectively implemented. Anti-trafficking campaign is […]

Proposed Hike in Gas Tariff Will Affect 4.3 Million Consumers, FPCCI

Islamabad, Oct 28 (Online): Irfan Iqbal Sheikh, President FPCCI, has forewarned the government that there will be huge repercussions of the looming gas tariff hikes on commercial and industrial consumers – and, the affected number of consumers may be as high as 4.3 million. Sanity […]

Federal Health Minister assures to address key issues of pharma industry

Islamabad, Oct 28 (Online): Dr. Nadeem Jan, Federal Minister for National Health Services Regulations and Coordination said that the pharma industry is playing a crucial role in meeting the growing demand of medicine and promoting exports, therefore, the government is determined to address its key […]

Jazz and Careem Extend Partnership to Enrich Customers’ Experience

Lahore – October 27, 2023: Jazz, Pakistan’s largest digital operator, and Careem, the pioneer of ride-hailing services in Pakistan, have extended their longstanding partnership to bring unparalleled benefits and innovation to their mutual customers. The collaboration, rooted in a shared commitment to empowering Pakistanis through […]

EU reaffirms its commitment to address malnutrition in Sindh

Karachi, 27 October 2023: In response to the rising malnutrition crisis in Sindh, a two-year support action, funded by the European Union, aimed at strengthening community based organizations in 5 districts of Sindh to combat malnutrition was launched at a ceremony in Karachi. The initiative […]

SECP initiates consultation on voluntary ESG Disclosure Guidelines

ISLAMABAD: The Securities and Exchange Commission of Pakistan(SECP) has issued draft guidelines on ESG disclosures for consultation as part of its Environmental, Social and Governance(ESG) Regulatory Roadmap issued in June 2022. The guidelines have been prepared to encourage listed companies to enhance their ESG disclosures […]

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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