Freelancers Payment limit Raised to $25,000- SBP

Freelancing is increasing in Pakistan with the ever-growing unemployment and the blooming trend of being your own boss. However, in Pakistan, Freelancers are payed less as compared to other countries due to which it becomes difficult for them to cope with the inflation these days. State Bank has increased Freelancers payment limit for freelance services in Information technology sector. The payment increased is five times of the present payment.

Freelancers Payment limit Increased BY Five times the Previous Limit

SBP has issued a notice, yesterday in which the bank revealed that this decision is made in order to enhance the overall scope of the business through freelancing. Previously, the payment for freelance IT services was $5,000 which is now increased to $25,000 per month.

By increasing this payments, SBP foresee that freelancers will become economically sound while foreign exchange flows in the country will also be improved. In this way Freelancers will be able to expand their business and will also be able to hire other individuals for the services.

Well this is a big news for freelancers and people who are planning to shift to freelancing. Furthermore this move will also bring economical stability to the nation and will attract more people to stop doing regular 9 to 5 job and instead move to freelancing where one has freedom to work whenever they want.

Also Read: Freelancing: The New Lifestyle of Pakistanis