Latest news with #IbrahimAmin
Business Recorder
2 days ago
- Business
- Business Recorder
Empowering freelancers: PAFLA, Innovista forge partnership
KARACHI: The Pakistan Freelancers Association (PAFLA), the national-level representative body of freelancers, and Innovista, a National Initiative of SIFC for collaborative workspaces and innovative platforms, have announced a strategic partnership aimed at creating transformative opportunities, including capacity building and business collaboration more than 50,000 freelancers every year across Pakistan. This landmark collaboration is set to reshape the freelance ecosystem through capacity building, digital infrastructure, and policy advocacy, paving the way for freelancers to play an even more critical role in the national economy. Key initiatives under the PAFLA-Innovista partnership, including the launch of nationwide freelancers training bootcamps, access to co-working and co-learning space at Innovista, creating awareness campaigns on freelancing rights, taxation, and global platforms, and on boarding of the freelancers at Innovista, etc. On this development, Ibrahim Amin, Chairman of PAFLA has said that freelancers are no longer just a side segment of the workforce; they are front and centre in Pakistan's digital economy with more than $500million contribution to bring in foreign exchange in Pakistan. He informed that this partnership with Innovista aligns perfectly with the mission to empower freelancers, advocate for policy reforms, and ensure their contributions are formally recognized in Pakistan's economic framework. 'Freelancers are helping bridge foreign exchange gaps and creating self-sufficiency across sectors, as they deserve infrastructure and recognition at par with traditional sectors,' he added. Pakistan has emerged as one of the top five countries contributing to the international gig workforce with strength of around 2.37 million and increasing across the country, he further said. CEO Innovista Hasham Sarwar said that the PAFLA-Innovista partnership is focused on providing training, technology access, financial literacy, and global client connectivity to unlock the full potential of Pakistan's freelancers, aiming to enhance employability and position Pakistan on a global stage. Through this partnership, Innovista will deploy its digital tools, learning modules, and community engagement resources to create an inclusive environment for Pakistani freelancers, especially women and youth in underserved regions, he said. The PAFLA has registered more than 0.1 million freelancers as members' community with its significant representation across the country. The association was taken organised 35 seminars and 25 training sessions, including with Google Inc. Copyright Business Recorder, 2025
Express Tribune
2 days ago
- Business
- Express Tribune
IT sector seeks policy continuity
Pakistan Freelancers Association Chairman Ibrahim Amin cautioned against increasing tax rates on freelancers, who already pay taxes on every transaction in addition to fees charged by freelancing platforms and payment gateway service providers. photo: REUTERS Listen to article Key stakeholders of the IT industry have urged the government to continue reforms and extend incentives for the significant growth of the IT sector and its allied fields to enhance export earnings and create jobs for youth, in line with the objectives of the futuristic "Uraan Pakistan" economic plan. They called for incorporating their recommendations in the upcoming federal budget 2025-26 to enable the IT sector to grow faster, generate more employment opportunities, and contribute more effectively to strengthening the national economy. They also stressed the need for continuity of existing policies and resolution of regulatory and tax-related challenges in the finance bill for 2025-26, particularly for the IT industry and freelancers, to help accelerate sectoral growth and development. Khushnood Aftab, Convener of the IT Committee at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), recommended that the government reduce import duties on essential hardware components such as RAM, SSDs, motherboards, batteries, and displays. This would support the local assembly of fully built imported devices like laptops, desktops, and tablets, fostering local value addition and attracting investment in domestic production facilities. He noted that increased support for the localisation of computer devices and hardware accessories could help Pakistan conserve foreign exchange, create skilled jobs, and position itself as a competitive exporter in regional markets. The locally branded IT hardware sector, he added, deserves focused attention as it directly aligns with the "Made in Pakistan" initiative and the broader Digital Pakistan vision. Furthermore, he emphasised the urgent need for the fair inclusion of local brands in government procurement, which would encourage scale, improve quality, and support domestic industry without compromising standards. Pakistan must also prepare for the growing demand for AI-integrated hardware and edge computing devices, he said, which could be achieved through the introduction of targeted Research and Development (R&D) tax credits and innovation grants to support companies working on emerging technologies within the country, said Khushnood Aftab, who is also Chairman Viper Group. Muhammad Umair Nizam, Senior Vice Chairman of the Pakistan Software Houses Association (P@SHA), said the IT sector is a key driver of economic growth, job creation, and foreign investment. He stressed that extending the Final Tax Regime (FTR) for the next decade would provide the policy stability necessary to encourage reinvestment and help Pakistan maintain its competitive edge in global markets. He also urged the government to harmonise the definitions of IT and Information Technology Enabled Services (ITeS) across federal and provincial tax laws to ensure consistency, eliminate jurisdictional ambiguities, and reduce compliance burdens. A unified framework, he said, would enhance investor confidence, streamline taxation, and promote sectoral growth by creating a predictable regulatory environmentultimately strengthening Pakistan's digital economy and competitiveness. Equally important, he said, is reducing income tax for salaried IT professionals, which would help retain top talent and mitigate the ongoing brain drain. Pakistan Freelancers Association Chairman Ibrahim Amin cautioned against increasing tax rates on freelancers, who already pay taxes on every transaction in addition to fees charged by freelancing platforms and payment gateway service providers. He recommended that the government exempt freelancers and IT companies from withholding tax (WHT) on international transactions under the Exporters' Special Foreign Currency Account (ESFCA) in the upcoming finance bill, following the concurrence of the Ministry of Finance and Revenue. He also urged the finance division to ensure that all features of the Roshan Digital Account (RDA) be extended to ESFCAs for IT companies and freelancers, enabling them to benefit from streamlined banking services and improved access to capital.
Business Recorder
7 days ago
- Business
- Business Recorder
Freelance services: annual foreign exchange inflows may reach $500m in Pakistan
KARACHI: Annual foreign exchange inflows from freelance services are rapidly growing and expected to reach $500 million in the current fiscal year (FY25), marking a significant contribution to the national exchequer. As the global nature of work undergoes rapid transformation, Pakistan is witnessing a powerful surge in the freelancing economy. With over 70 percent of its population under 30, the country is fast becoming a hub for digital talent. Ibrahim Amin, Chairman of the Pakistan Freelancers Association (PAFLA) has emphasised the critical role freelancers now play in Pakistan's economic stabilisation, especially in the face of recurring trade and currency imbalances. Minister meets freelancers and content creators 'These aren't just individual success stories. This is sustainable, scalable foreign income entering Pakistan without factories, raw materials, or traditional exports. It's smart economics,' he added. He said that PAFLA fully supporting the freelancers to contribute in the economic growth and is also in dialogue with federal and provincial governments to shape national policy frameworks. These include proposals for tax incentives, simplified account registration, lower transaction fees on remittances, and legal protections for freelancers, he added. Powered by the digital revolution, increased internet access, and global freelancing platforms like Upwork, Fiverr, and tens of thousands of Pakistanis now offer services worldwide, from the US and UK to the Middle East and Europe. According to the State Bank of Pakistan, freelance exports officially brought in over $400 million in the last fiscal year, poised to grow as more youth join the remote workforce. 'With the current pace of growth, we are expecting that freelance exports will cross $500 million during this fiscal year', Amin said and added 'These inflows support thousands of households while strengthening Pakistan's global digital reputation across IT, design, digital marketing, and content development sectors.' Despite this momentum, Amin pointed out several structural challenges, chief among them being the lack of access to international payment gateways like PayPal, unclear taxation policies, and the absence of freelancer-centric banking products. Copyright Business Recorder, 2025
Business Recorder
24-05-2025
- Business
- Business Recorder
Freelance services: Annual foreign exchange inflows may reach $500m
KARACHI: Annual foreign exchange inflows from freelance services are rapidly growing and expected to reach $500 million in the current fiscal year (FY25), marking a significant contribution to the national exchequer. As the global nature of work undergoes rapid transformation, Pakistan is witnessing a powerful surge in the freelancing economy. With over 70 percent of its population under 30, the country is fast becoming a hub for digital talent. Ibrahim Amin, Chairman of the Pakistan Freelancers Association (PAFLA) has emphasised the critical role freelancers now play in Pakistan's economic stabilisation, especially in the face of recurring trade and currency imbalances. Minister meets freelancers and content creators 'These aren't just individual success stories. This is sustainable, scalable foreign income entering Pakistan without factories, raw materials, or traditional exports. It's smart economics,' he added. He said that PAFLA fully supporting the freelancers to contribute in the economic growth and is also in dialogue with federal and provincial governments to shape national policy frameworks. These include proposals for tax incentives, simplified account registration, lower transaction fees on remittances, and legal protections for freelancers, he added. Powered by the digital revolution, increased internet access, and global freelancing platforms like Upwork, Fiverr, and tens of thousands of Pakistanis now offer services worldwide, from the US and UK to the Middle East and Europe. According to the State Bank of Pakistan, freelance exports officially brought in over $400 million in the last fiscal year, poised to grow as more youth join the remote workforce. 'With the current pace of growth, we are expecting that freelance exports will cross $500 million during this fiscal year', Amin said and added 'These inflows support thousands of households while strengthening Pakistan's global digital reputation across IT, design, digital marketing, and content development sectors.' Despite this momentum, Amin pointed out several structural challenges, chief among them being the lack of access to international payment gateways like PayPal, unclear taxation policies, and the absence of freelancer-centric banking products. Copyright Business Recorder, 2025
Express Tribune
10-05-2025
- Business
- Express Tribune
Tech experts seek alternative payment channels
Pakistan, by contrast, has opted out of the ITA, one of the world's most successful digital trade agreements, whose membership has grown to 86 countries accounting for over 97% of global digital trade.: photo: file Listen to article Tech experts and stakeholders have urged the government to continue its facilitation for digital entrepreneurs and freelancers and provide them facilities for funding transactions in terms of international payment gateway or alternative payment channels. The government has been asked for establishing a facility for freelancers to receive international payments. Pakistani IT entrepreneurs, e-commerce traders and freelancers receive payments from various sources, including Payoneer – a global payment integrator platform that also provides services in Pakistan. However, it recently revised its charges upwards adding to miseries for online workers. Under the new pricing structure, it slapped charges on free services including the transfer and inflow of funds to non-local currency bank accounts such as the US dollar, euro or British pound and revised up charges on the withdrawal of funds by 50%. After capturing the freelancing community and becoming the only payment option integrated with four major financial institutions, Payoneer's sudden 50% fee hike seems unfair as freelancers are already facing challenges to make hard-earned money, while trying to evolve from a freelancer to an entrepreneur, said Pakistan Freelancers Association (Pafla) Chairman Ibrahim Amin. The government must invite alternative platforms to create healthy competition and safeguard the community from such sudden one-sided moves, he said. The banking regulator should also work to establish a payment gateway for cross-border fund transfer to facilitate freelancers and digital workers. In Pakistan, a freelancer pays a fixed share to the freelancing platforms. He or she pays a fee to payment service providers and a tax to the government to get final payment in his/her pocket, he remarked. "A significant majority of freelancers are self-trained and committed who are not making money for their families and reducing poverty, but serving our country by bringing in precious foreign exchange," the Pafla chief said. Payoneer has been providing services to Pakistani freelancers and businesses with payments for over 10 years. Over the period, it has widened its customer base with a gradual addition of service partners, including JazzCash, Faysal Bank, Meezan Bank and Habib Bank. Its customers can invoice clients and customers abroad and receive money in their local bank account. Payoneer is one of the payment methods on freelancing platforms like Upwork and Fiverr having connectivity with more than 150 countries for money transactions. IT exporter Dr Noman Ahmad Said said the freelancing and remote work culture is evolving across the globe and Pakistan too, hence, the government should take it very seriously to facilitate this community to attract foreign exchange reserves. He said the payment system is a major challenge for Pakistani freelancers and IT entrepreneurs, hence, the government should explore multiple options through collaborations with various service providers and commercial banks, including introducing services like Paypal. The government must design an out-of-the-box policy for facilitating the freelancing community by subsidising service fee for fund transfer as similar to the allocation of funds for aiding overseas Pakistanis, added Noman Said, who once led one of the top-performing freelancer companies on a global platform. He mentioned that the number of freelancers in Pakistan is increasing with many private and public sector institutions and non-government organisations (NGOs) are providing free training and courses to learners of different ages and genders in different cities of the country. On top of that, the State Bank of Pakistan (SBP) is working on setting up a cross-border payment facility through RAAST and Buna Payment System of the Arab Monetary Fund (AMF) for the facilitation of overseas Pakistanis to transfer remittances easily and affordably from Gulf countries.
