Freelancing has become the most popular way of income these days after Covid-19. The government of Pakistan is also trying to boost its economy through the freelancing sector. Therefore, to boost financial access for freelancers and enhance Pakistan’s potential for attracting foreign exchange.
Prime Minister (PM) Shehbaz Sharif has established the BOP Freelancer Segment and Credit Card. He announced a cheque distribution ceremony for beneficiaries of the Prime Minister’s Youth Bussiness and Agriculture Loan Scheme (PMYB&ALS). Bank Of Punjab (POB) president and CEO Zafar Masud, including other senior officials, were also a part of the ceremony.
Zafar Masud said, “Pakistan is home to around 3 million freelancers, who contributed $400 million to the country’s total IT export remittances of $2.616 billion during the fiscal year 2022.
He firmly believes that the freelancer’s potential is worth billions of dollars, and the new initiative taken by the government will help unlock this potential and drive economic growth.
Under the scheme, freelancers and IT professionals can now easily open Freelancer Digital Accounts in Pakistani currency(PKR) and US dollars (USD).
After opening the accounts, the user can transact the amounts, allowing for the official receipt of foreign remittances and supporting enhanced credit and debit limits of up to $5,000/month and $30,000/annum.
Though the BOP Freelancer Segment and Credit Card is a crucial step towards boosting financial access for freelancers in Pakistan and boosting the country’s economic potential.
However, with the constant government support and the banking sector, Pakistan’s freelancers are well-positioned to contribute to the country’s economic growth in the upcoming years.
Furthermore, freelancers can get BOP PSEB co-branded debit and credit cards. The user can avail of exciting tech-related discounts at our alliance partners and boast features customised for this segment.
“We are thankful to our partners Master Card and Pakistan Software Export Board (PSEB) for their tireless efforts in making this possible”, stated Zafar Masud.
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