New Policy by IT Ministry Aims to Assist Freelancers in Earning $5 Billion Annually
The Ministry of IT and Telecom has presented the National Freelancing Facilitation Policy to the Federal Cabinet for approval.
Crafted through extensive consultations with stakeholders, this policy aims to position Pakistan as a premier global freelance market, boosting exports and foreign exchange earnings.
Additionally, AirSial’s flight PF-143 from Karachi to Lahore and SereneAir’s flight ER-522 on the same route were canceled. Other cancellations included Airblue’s Lahore-bound flight PA-402, its Karachi to Islamabad flight PA-208, SereneAir’s Karachi to Islamabad flight ER-502, PIA’s Karachi to Islamabad flight PK-308, and SereneAir’s flight PR-554 to Peshawar.
Key features include the establishment of a freelancer registry via a dedicated portal for market interaction and regulatory dealings. It advocates for a transparent governance model, digital banking, e-payments, and access to financial instruments like low-interest loans. Additionally, registered freelancers stand to benefit from an income tax exemption.
The policy underscores the need for a digital-friendly environment and promotes learning and skill development. Capacity-building programs target skill enhancement, particularly in underserved regions like Southern Balochistan.
To facilitate freelancers, the policy suggests establishing facilitation desks, streamlining visa processes, and promoting digital banking channels. Banks are urged to set up technology business branches in six cities to support freelancers. Moreover, collaboration with relevant organizations will offer subsidized loans and insurance coverage.
The policy advocates for maintaining the income tax exemption for freelancers until 2030, introducing new training and certification initiatives, and simplifying inward foreign exchange remittances. It also aims to facilitate foreign exchange bank account openings for freelancers, enabling them to retain over 50 percent of foreign exchange income in these accounts.
To ensure these measures, the PSEB will coordinate with the Ministry of Finance and the Federal Board of Revenue to maintain tax exemptions on these remittances until 2030.
