Pakistani Freelancers to Receive PayPal Payments in February: IT Federal Minister
Dr. Umar Saif, the Caretaker Federal Minister for IT, announced at Tech Destination Pakistan that Pakistani freelancers to receive PayPal payments in February. Starting in February, a pilot initiative will begin to be implemented, providing 10,000 freelancers in Pakistan with the capability to receive payments through PayPal.
According to Dr. Saif, although PayPal will not maintain a physical presence in Pakistan, a third-party agreement has been reached to facilitate PayPal payments. The new initiative obviates the necessity for freelancers to undergo the conventional procedure of initiating a PayPal account. On the contrary, non-Pakistani citizens will utilize their PayPal accounts to complete the transactions, and the resulting funds will be quickly transferred to the freelancers’ accounts.
The government has streamlined the opening of bank accounts in an effort to facilitate the process for freelancers. Evidence of freelancers possessing accounts on well-known platforms such as Fiverr, Upwork, Elance, Toptal, or Crossover is acceptable.
Dr. Saif emphasized a 50% dollar retention policy as a game-changing policy for freelancers in the IT industry. This enables independent contractors to maintain fifty percent of their revenue in US dollars while also being issued debit cards to facilitate domestic and international transactions.
The government has allocated funds for the establishment of E-Rozgaar institutions throughout Pakistan. The primary objective of these centers is to provide exceptional amenities, boost efficiency, and make a positive contribution to the overall fortification of the digital environment in Pakistan.
Through collaborative efforts between private entities and the government, more than 250 E-Rozgaar Pakistan centers are expected to be established as a component of this all-encompassing program. The purpose of this endeavor is to promote entrepreneurship and freelancing in Pakistan, with an emphasis on nurturing inclusivity within the digital, financial, and economic domains.
Additionally, Dr. Saif emphasized noteworthy decisions that are intended to enhance IT education. The 15th of January is the date of a standardized quality examination for 75,000 IT graduates; those who pass will be extended employment offers via the Industry Placement Program. By allocating funds to support industry-specific courses in universities, the government ensures that students are adequately equipped to navigate the latest developments in their respective fields.
By training 16,000 individuals in international certifications, the government intends to ensure that the workforce is proficient in financials for Salesforce, Cisco, Microsoft, and Oracle, among others. Secretary of Federal Information Technology Hassan Nasir Jami underscored the commitment of the ministry to the advancement of the IT ecosystem, urging students, developers, and entrepreneurs to capitalize on the opportunities presented by this dynamic environment.
Read More: The IT minister inaugurated the Pakistan Startup Fund of Rs. 2 billion.
