A Leap for Freelancers: PayPal Payments for Pakistani Freelancers to Roll Out in February

a leap for freelancers paypal payments for pakistani freelancers to roll out in february

a leap for freelancers paypal payments for pakistani freelancers to roll out in february

In a Significant Development Caretaker Federal Minister for IT and Telecommunication Dr. Umar Saif announced that Pakistani freelancers would begin Receiving PayPal Payments in February. The initiative, initially Launched as a Pilot Project aims to Facilitate 10,000 Freelancers marking a Crucial Step in Empowering the Digital Workforce of the Country.

During the Tech Destination Pakistan event Dr. Umar Saif Emphasized that the Project would Scale up in March Extending PayPal and Stripe access to Freelancers Nationwide. Notably while PayPal itself won’t directly Operate in Pakistan an agreement ensures Remittances through PayPal via a third Party.
Under the Streamlined Program freelancers won’t be Required to open PayPal Accounts. Payments from international Clients will be made directly to Freelancers’ accounts Eliminating the need for an intermediary PayPal account.

Dr. Saif detailed the Mechanism for Opening Bank Accounts, Specifying that Freelancers need to Provide Evidence of Accounts on Platforms like Fiverr, Upwork, Elance, Toptal or Crossover. Additionally he revealed a 50 Percent Dollar retention Policy within the IT industry allowing freelancers to retain half of their Earnings in Dollars.
The Government has Allocated funds for the Establishment of E-Rozgaar Centers Supporting a Public-Private Partnership Model. These Centers aim to Provide a Conducive Environment for Freelancers, Enhancing Productivity and Contributing to Pakistan’s Digital Ecosystem.

With more than 250 E-Rozgaar Centers Planned across the Country the initiative Seeks to Promote inclusivity in the Digital and Economic Sectors by Fostering a Culture of freelancing and Entrepreneurship. Current Progress indicates that 40 E-Rozgaar Centers will be Operational by February 19, 2024.
Dr. Umar Saif also Highlighted plans to Conduct the first Standardized Quality test for 75,000 IT Graduates on January 15. Successful candidates will be eligible for job Opportunities through the Industry Placement Program, with financial support and incentives for both students and companies providing apprenticeships.

Moreover the Government aims to Enhance the Skill set of IT Professionals by Providing international Certifications in Collaboration with industry Giants like Google, Microsoft and Cisco. The IT industry’s Revenue increased by 13 Percent in the last month Reflecting the Positive impact of initiatives under the Strategic Initiative Fund for IT and Telecom.

Read More: Pakistan’s Foreign Exchange Reserves Decline to $6.9 Billion, Highlights IMF Agreement Progress

Federal IT Secretary Hassan Nasir Jami affirmed the ministry’s Commitment to Fostering an inclusive IT Ecosystem Encouraging Entrepreneurs, Students and Developers to Capitalize on the Available Opportunities.

Read More: Pakistani Rupee Gains Ground Against US Dollar: Positive Outlook Amid IMF Agreement and Financial Support

This initiative Stands as a Pivotal Moment, Recognizing the Vital Role Freelancers Play in Pakistan’s Digital landscape and Providing them with Seamless access to international Payment Platforms.

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