Category: Business & Commerce

Business & Commerce

Business & Commerce Technology
IT Exports Increase 47pc to $1.9bln in 11 Months
KARACHI: Pakistan’s information technology exports increased 47 percent to $1.9 billion during 11 months of the current fiscal year of 2020/21, the central bank data showed on Friday. IT exports rose 59 percent year-on-year to $200 million in May. The exports were $126 million in the same month of last year. Telecommunications, computer and information services are the important items of services exports. The State Bank of Pakistan’s (SBP) data…
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Business & Commerce
Amazon adds Pakistan to the Approved Selling Countries List
Sellers get excited! Buyers, don’t warm your credit cards up just yet! Pakistan has finally bagged a position in the Amazon approved selling countries. Although it might take 12 – 24 hours for the process to be finalized, up and running. Accounts can be made using Pakistani details. Standing ovation to the efforts of the people behind this incredible achievement, Aisha Moriani (Joint Secretary, Ministry of Commerce), Omer Gajial (Ex…
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Business & Commerce
Pakistan to Produce Energy from Waste
The concept of utilising waste to generate energy might soon be introduced in Pakistan and the ministries concerned would be educated about the technology, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo. In a meeting with a delegation of Pakistan Plastic Manufacturers Association on Tuesday, he said Chinese innovation and introduction of waste recycling was gaining traction in Pakistan. “Pakistan’s exports are concentrated in only…
Business & Commerce
Auto Sector Projected to Grow In 2021, 2022
KARACHI: Despite the negative impacts of the Covid-19 lockdown on Pakistan’s economy, experts see light at the end of the tunnel for the automobile industry. “Industry analysts have painted a positive outlook for the auto industry in the upcoming years, predicting around 17% rise in demand for cars in 2021 and 24% in 2022,” stated an OLX report on vehicle category. In comparison to FY20, the volumes are estimated to…
Business & Commerce Technology
Skywell Automobile to Invest $50 Million in Pakistan to Launch Electric Vehicles
In a session with the local media, the Federal Minister Science & Technology, Fawad Chaudhry announced that Skywell Automobile will be bringing in an investment of 50 million dollars to launch electric buses in Pakistan. The aforementioned investment is planned for the first phase. The next phase shall see the beginning of the local manufacturing of electric buses in Pakistan. The Minister informed that these buses will begin rolling on…
Business & Commerce
SBP Approves Pakistan’s Own PayPal-Like International Payment Gateway
The State Bank of Pakistan (SBP) has reportedly given go-ahead for the establishment of an international payment gateway to monitor remittances through the National Information Technology Board (NITB), sources familiar with the matter told ProPakistani. This information has been shared with the federal cabinet in a recent meeting when the performance of NITB came under discussion. A query was raised on the status of two projects, namely, Anti-Money Laundering and…
Business & Commerce
Pakistan wins GSP-Plus extension from EU
The Inter­national Trade (INTA) Com­mittee of EU Parliament has extended the Genera­lised System of Preferences-Plus (GSP-Plus) status for Pakistan, enabling the country to continue to enjoy preferential duties on exports for the next two years. While the GSP-Plus facility has been available to Pakistan since January 2014, its continuation is an award for Islamabad’s progress in enacting new laws and developing new institutions for implantation of 27 core conventions of…
Business & Commerce Technology
Pakistani fintech entrepreneur wins award
Adnan Ali, the CEO of Avanza Premier Payment Services (APPS) won the “Excellence in Finance Leaders”, award for his significant contribution towards the financial sector, at the FiNext Conference, held in Dubai on February 26 & 27, 2020. The award is not just an individual win, but a milestone for Pakistan, as it signifies recognition of domestic entities and talent on international forums. FiNext Awards are one of the most…