Pakistan's economy finds itself navigating through daunting obstacles, with inflation rates skyrocketing to unprecedented heights in recent times. The repercussions of this surge in inflation have reverberated throughout businesses and households alike. Consumers grapple with reduced purchasing power, their disposable income stretched thin, while businesses face mounting production costs that hinder growth and chip away at profitability. Among the most affected sectors are food, energy, and transportation, where the escalating prices of essential goods compound the economic challenges faced by both entrepreneurs and consumers.
Emerging from these tumultuous conditions is a dynamic force of transformation - the e-commerce industry, epitomized by Daraz, the country’s leading online shopping platform. The platform fosters entrepreneurship, drives business growth, and injects vitality into the ailing economy. Daraz has emerged as a transformative force, breathing life into the aspirations of countless entrepreneurs. The success stories that continue to unfold on this dynamic platform are testaments to the boundless potential of technology.
Take the inspiring journey of Danish, for instance. In 2020, Danish embarked on his entrepreneurial quest amidst fierce competition within a price-driven marketplace. However, armed with an unwavering commitment to customer support and his sturdy determination to offer unique products, Danish catapulted his business to the forefront, outshining his competitors and earning the highest accolade of customer satisfaction. Through tireless dedication, Danish expanded his team, established his own manufacturing capabilities, and found himself basking in financial stability, with monthly savings amounting to a remarkable 200k to 300k.
Another tale of triumph emerges from the resolute spirit of Talha. While recognizing the untapped potential of Daraz back in 2019, it was during the trying times of the COVID-19 pandemic that Talha wholeheartedly embraced the platform's possibilities. By astutely catering to customer demands and focusing on beauty products, Talha witnessed a meteoric rise in revenue. Daraz’s flagship 11.11 campaign in 2020 served as a defining moment, where his business amassed an astonishing 5,000 orders and generated revenue ranging from 4 million to 5 million. Beyond his personal achievements, Talha radiates a spirit of camaraderie, actively supporting fellow sellers by sharing insights and helping them carve their path toward success. This nurturing ecosystem on Daraz bolsters the growth of aspiring entrepreneurs and fosters a collective triumph.
From the depths of humble beginnings springs the extraordinary tale of Zuhair, whose journey to self-made millionaire status commenced in April 2021. Disenchanted with the notion of working for others, Zuhair embarked on his Daraz expedition armed with a modest investment of merely PKR 10,000. Against all odds, Zuhair's business soared, exceeding monthly sales of PKR 2 million, propelling him to unparalleled heights. With gratitude in his heart for Daraz unwavering support, Zuhair warmly advises others to explore the vast tapestry of opportunities that the platform presents.
Embracing the spirit of innovation and redefining the e-commerce landscape, Luqman, the visionary CEO of Sam's Brother, has left an indelible mark on Daraz. Confronting numerous obstacles head-on, Luqman's steadfast determination translated into staggering monthly sales of PKR 4 to 5 million, contributing to the exponential growth of the e-commerce industry. Fuelled by a relentless pursuit of innovation, Luqman envisions launching an exclusive brand on Daraz.pk, leveraging the platform's extensive reach and customer base. It is through these creative endeavours that he aims to reshape the very fabric of the e-commerce landscape, propelling the industry to new heights.
Looking forward, the future of Pakistan's e-commerce sector shines brightly, promising substantial annual growth rates in online retail sales in the years to come. It is within this fertile soil that entrepreneurs on platforms like Daraz find nourishment for their dreams. The platform itself envisions expanding into uncharted territories, tapping into untapped markets, and introducing innovative seller support programs. With unwavering commitment, Daraz empowers entrepreneurs, fosters business growth, and continually enhances the customer experience.
By nurturing and supporting entrepreneurs, this platform not only fuels their individual success stories but also plays a pivotal role in the overall economic development of Pakistan. As Daraz continues to pave the way for entrepreneurship and innovation, a brighter future beckons, promising newfound opportunities and holistic growth for businesses and consumers across the nation.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on September 30, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||353.3||357|
|Hong Kong Dollar||HKD||37.93||38.28|
|New Zealand Dollar||NZD||174.58||176.58|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 205,600 on Saturday.
The price of 10 grams of 24k gold was recorded at Rs 176,270. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 205,600||PKR 2,450|
|Karachi||PKR 205,600||PKR 2,450|
|Islamabad||PKR 205,600||PKR 2,450|
|Peshawar||PKR 205,600||PKR 2,450|
|Quetta||PKR 205,600||PKR 2,450|
|Sialkot||PKR 205,600||PKR 2,450|
|Attock||PKR 205,600||PKR 2,450|
|Gujranwala||PKR 205,600||PKR 2,450|
|Jehlum||PKR 205,600||PKR 2,450|
|Multan||PKR 205,600||PKR 2,450|
|Bahawalpur||PKR 205,600||PKR 2,450|
|Gujrat||PKR 205,600||PKR 2,450|
|Nawabshah||PKR 205,600||PKR 2,450|
|Chakwal||PKR 205,600||PKR 2,450|
|Hyderabad||PKR 205,600||PKR 2,450|
|Nowshehra||PKR 205,600||PKR 2,450|
|Sargodha||PKR 205,600||PKR 2,450|
|Faisalabad||PKR 205,600||PKR 2,450|
|Mirpur||PKR 205,600||PKR 2,450|