It is quite commendable to see the some of the initiatives that are being introduced by the government to help people earn. Yes, we have another piece of news with us that is good news for freelancers all over Pakistan. According to sources, the government of Pakistan is coming up with an ingenious way to make sure that PayPal payments start to enter Pakistan. It is not easy to get a job in the current economic times and job uncertainty is higher than ever.
A lot of people live under a constant fear that they may wake up and not have a job, God Forbid. However, due to this, freelance work is increasing more and more in the country, with people learning extra skills to support their households. To cater to the increasing demand of freelance, the government has decided to introduce an initiative. Pakistan’s IT and Telecommunication Minister, Dr. Umar Saif, announced a pilot project allowing 10,000 freelancers to receive PayPal payments starting in February.
PayPal Payments Incoming
Freelancers won’t need a PayPal account; payments will be channeled through a third party, with funds deposited directly into their accounts. This means that, while PayPal is not coming to Pakistan directly, people here can receive payments made it to it through a third party channel. The government has established E-Rozgaar centers through a public-private partnership, aiming to enhance freelancers’ productivity and boost Pakistan’s digital ecosystem.
These E-Rozgaar centers are aimed to provide employment and assistance to the people who are trying to earn a living through means of attaining new tech skills. More than 250 E-Rozgaar centers are planned, with 40 centers expected to be operational by February 19, 2024. Other than that, there is also another good news with the PayPal initiative. The IT industry will implement a 50% dollar retention policy, allowing freelancers to keep half of their earnings in dollars and providing them with a debit card for domestic or international spending.
Providing Economic Stability
To be able to receive payments through PayPal and retain half of their earnings in dollars means good things for a lot of freelancers. This way they can spend their earned capital in rupees and have savings in another currency too. The government is conducting standardized quality tests for 75,000 IT graduates, offering job opportunities through the Industry Placement Program for successful candidates.
The government is also going to give a stipend to the individuals who are part of this program. Additionally, the company that hires them will also be given cash rewards by the government. A focus on skill development includes training 16,000 individuals for international certifications in technologies like Salesforce, Cisco, Microsoft, and Oracle financials, to meet industry demands and increase IT revenue. In March, the program will be expanded to provide nationwide access to PayPal and Stripe payments for freelancers.
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