LAHORE: Prime Minister Mian Shehbaz Sharif has launched the Freelancer BOP and Credit Card Segment at a check distribution ceremony among the beneficiaries of the Prime Minister’s Youth and Agriculture Business Loan Scheme (PMYB&ALS). The event was part of the ongoing ‘Week of Youth’ celebrations. Zafar Masud (President and CEO – BOP) and other senior BOP officials also attended the occasion.
Speaking at the ceremony, Zafar Masud (President and CEO –BOP) said, “There are around 3 million freelancers in Pakistan. Freelancers account for $400 million of the total $2.616 billion ICT export remittances recorded by the country during FY 2022, while their potential is worth billions of dollars. Through our freelancer & credit card segment initiatives, we aim to unlock this potential and help the economy.
Freelancers and IT professionals can open Freelancer Digital Accounts in PKR and USD, which can help carry foreign remittances through authorized channels and can support increasing credit and debit limits up to USD 5,000 per month & USD 30,000 per year. Additionally, IT professionals and enterprises are now allowed to maintain 35% of their export proceeds in these special foreign currency accounts, with the aim of bringing in and maintaining foreign exchange earnings.”
Copyright Business Recorder, 2023