PM Shehbaz introduced the BOP Freelancer Segment and Credit Card (PMYB&ALS) at the delivery of cheques to the recipients of the Prime Minister’s Youth Business and Agricultural Loan Plan.
President and CEO BOP Zafar Masud, as well as other senior officials, were there as well.
The Bank of Punjab (BOP) would improve financial access for freelancers through this scheme by addressing their transactional, lending, and payment-related needs. Additionally, this initiative will also enhance the country’s potential of attracting foreign exchange.
Zafar Masud said, “There are around 3 million freelancers in Pakistan, who contributed $400m out of the total IT export remittances of $2.616 billion during FY 2022, while their potential is worth billions of dollars. Through the freelancer segment & credit card initiative, BOP aims to unlock this potential and help the economy.”
Under the initiative, freelancers and IT professionals can register Freelancer Digital Accounts in both PKR and USD, allowing them to receive foreign remittances and enjoy increased credit and debit limits of up to $5,000 per month and $30,000 per year.
PM Shehbaz hopes to revolutionize the IT industry.
Mian Muhammad Shehbaz Sharif born 23 September 1951) is a Pakistani politician and businessman who is currently serving as the 23rd Prime Minister of Pakistan, in office since 11 April 2022. He is the current president of the Pakistan Muslim League (N) (PML-N). Previously in his political career, he served as the Chief Minister of Punjab three times, making him the longest-serving Chief Minister of Punjab.
