Freelancers, who provide services in information and communication technology, can now receive payments worth up to $25,000 (Rs 3.9 million) per month, which, earlier, stood at a mere $5,000 (Rs 0.7 million).
The decision has been made by the State Bank of Pakistan (SBP) to broaden the scope of remittances in Pakistan. This will facilitate freelancers to bring a greater value of funds through more economical and efficient channels of home remittances and help in receiving foreign exchange flow through formal banking.
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According to SBP, “this would enable freelancers to expand their services and engage new individuals to join the workforce that will inevitably create more employment opportunities in Pakistan”.
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The concept of freelancing is the emerging trend in Pakistan. Freelancing is a term used commonly for people who are self-employed. Mostly, they are not committed to a particular employer for the long term. They provide services in the local and international market.
