Freelancers to get interest-free loans

The Ministry of Information Technology and Telecommunication has announced a groundbreaking initiative, offering interest-free loans to freelancers to empower independent professionals and enable them to establish e-working centres, which will address the critical challenge of inadequate workplaces.

According to an official of the IT ministry, each freelancer is set to receive financial assistance of Rs100,000 to establish their own e-working centre. “This strategic move is anticipated to revolutionise the freelance landscape as well as significantly enhance the economic contribution of freelancers,” he said.

Highlighting the initiative’s significance, the official said despite approximately 1.5 million freelancers having undergone government training, many still faced challenges in acquiring essential resources like computers and dedicated workspaces.

To address the issue, the government has allocated Rs50 billion for establishing private-sector co-working spaces, benefiting half a million freelancers nationwide. “The goal is not only to provide necessary infrastructure but also to create an ecosystem fostering creativity and productivity,” he stressed.

Read: ‘Freelancers can generate $10b in tech exports’

The official expressed optimism that with the support of interest-free loans, each freelancer could potentially earn up to $30,000 annually and make a significant and direct contribution to the national economy.

The freelancers need to be equipped with tools and environment to thrive in the digital landscape.

“This initiative goes beyond empowering individuals, it positions Pakistan as a hub of independent professionals, paves the way for sustained economic growth and fosters a culture of innovation.” By addressing the challenges, the government aims not only to uplift its freelance workforce but also contribute to and lead in the ever-evolving digital landscape.

Published in The Express Tribune, December 7^th, 2023.

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