Pakistan has over 2.3 million freelancers, but only 38,000 of them have bank accounts, according to a meeting of the Prime Minister’s Committee on IT Export Remittances.
The committee, led by Finance Minister Muhammad Aurangzeb, discussed strategies to increase IT export remittances, which play a crucial role in the country’s digital economy and overall economic growth. Despite 500 new bank accounts being opened every week, there is still a need to encourage more freelancers to open and maintain accounts.
The meeting stressed the importance of simplifying banking processes and making the system more transparent for freelancers. To address these issues, a working group will be set up, including members from various sectors.
The Finance Minister emphasized the potential of the IT sector to generate foreign exchange for Pakistan and called for a collective effort to overcome the challenges freelancers face in accessing banking services.
This initiative aims to create a more efficient and accessible banking environment for freelancers, helping to support the growth of Pakistan’s digital economy and increase foreign exchange earnings.
