Pakistani freelancers’ earning jumps by 27pc.

According to a report by Deel, a 27% hike in salaries of Pakistani freelancers has been noted. An average Pakistani freelancer earned nearly Rs6 million, it said. According to a report by a San Francisco based organization Deel, Pakistani freelancers’ salaries are among the world’s fastest-rising. The Covid-19 pandemic and advances in communications technology have assisted in globalizing the market and have created opportunities for people in developing nations to work remotely at higher wages, said that report. Mexico (57%) experienced the highest rise in freelance earnings, followed by Canada (38%), Pakistan (27%), and Argentina (21%). Freelance salaries in India rose by only 8%, the Philippines 7% and Russia 4%.

A survey conducted by Payoneer in 2019 showed that Pakistani women freelancers were earning $22 an hour, 10% more than the $20 an hour by men. Pakistani male freelancers earnings are at par with the global average.

We empower digital society in Pakistan.

Freelancing has been on the rise in Pakistan and has the potential to contribute positively to the country's economy in several ways:

Foreign Exchange Earnings: Freelancers in Pakistan often work for clients from other countries and earn income in foreign currencies such as US dollars. This can contribute to the country's foreign exchange reserves.

Employment Opportunities: Freelancing creates opportunities for individuals to earn income and gain employment in various sectors, including IT, writing, graphic design, and more. It can help reduce unemployment rates and empower individuals to work independently.

Skill Development: Freelancers often acquire valuable skills and expertise in their chosen fields. This can lead to a more skilled and competitive workforce in Pakistan. Economic Diversification: The freelancing sector diversifies the economy by offering income-generating opportunities outside of traditional employment structures. This can make the economy more resilient.

Global Connectivity: Freelancers in Pakistan often work for clients from other countries and earn income in foreign currencies such as US dollars. This can contribute to the country's foreign exchange reserves.

Freelancers in Pakistan can work with clients and companies from around the world, fostering global connectivity and potentially leading to international collaborations. While freelancing can bring numerous benefits to Pakistan's economy, it's essential to have a supportive regulatory and financial infrastructure in place to ensure that freelancers can access their earnings easily, pay taxes as required by law, and receive protections as independent workers. To get the most up-to-date and detailed information regarding the State Bank of Pakistan's views on freelancing revenue and any specific policies or initiatives they may have introduced, I recommend checking the official website of the State Bank of Pakistan or consulting with financial experts or government authorities for the latest information.

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