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.
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”.
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.