The freelancing is emerging tremendously in the business sector around the globe. Freelancers from every corner of the world work with international organizations and companies to earn and improve their revenue using IT Skills and other technology. Pakistan is also in the leading list of freelancers and more and more people over the country are entering in freelancing.
The Payment method matters a lot when a freelancer works with a company and signs an agreement for a project and usually projects are given with their rates and people take projects and complete according to the need of company or individual and then receive payment with a proper method via credit card, Visa Card etc. In Pakistan the Payment limit for receiving an amount on behalf of the project from an international organization or client has been enhanced to 25000 per month. This is good news for Freelancer from the State Bank of Pakistan SBP. According to reports, the scope of business to customer transaction, SBP has increased the per month payment limit for freelancers from $5,000 per individual per month to $25,000 per individual per month.
It is positive initiative for the freelancers and it will also add more to the country’s revenue from foreign exchange through formal banking. In this freelancer will get more opportunities to increase their business and engage new freelancers to enter in the freelancing market. This initiative will be proved helpful to create employment opportunities and increase foreign exchange earnings of the country. It is compulsory to mention here that the experts of the IT industry are of the view point that exports’ values of IT and computer services don’t reflect truly from the central bank’s data as the income of freelancers from foreign clients come as remittances as received from overseas Pakistanis. This initiative will encourage the freelancers.