After Covid-19, freelancing has emerged as the most preferred source of income nowadays. Via the freelance industry, Pakistan’s government is also attempting to strengthen its economy. Hence, to improve Pakistan’s capacity to attract foreign exchange and to increase financial access for independent contractors.
The BOP Freelancer Segment and Credit Card have been formed by Prime Minister (PM) Shehbaz Sharif. He stated the Prime Minister’s Youth Business and Agricultural Loan Program recipients would get checks at a ceremony (PMYB&ALS). Several senior authorities and Bank Of Punjab (POB) president and CEO Zafar Masud attended the function.
According to Zafar Masud, Pakistan is home to almost 3 million independent contractors, who contributed $400 million to the nation’s $2.616 billion in total IT export remittances in the fiscal year 2022.
He is adamant that the government’s new strategy would help unlock the billion-dollar potential of independent contractors and spur economic growth.
The programme enables IT specialists and independent contractors to open Freelancer Digital Accounts quickly in both US currencies and Pakistani rupees (PKR) (USD).
The user can transact the funds after opening the accounts, enabling the official receipt of international transfers and supporting increased credit and debit limits of up to $5,000 per month and $30,000 per year.
The BOP Freelancer Segment and Credit Card is an important step towards improving financial access for independent contractors in Pakistan and raising the potential of the nation’s economy.
Yet, Pakistan’s independent workers are in a good position to help the nation’s economic expansion in the coming years thanks to the banking industry and the government’s ongoing backing.
Moreover, co-branded BOP PSEB debit and credit cards are available to freelancers. The user can benefit from significant discounts on technology from our alliance partners and enjoy features made specifically for this market.
We appreciate the efforts of our partners Pakistan Software Export Board (PSEB) and Master Card, who made this possible, said Zafar Masud.