Tech

KARACHI: The Pakistan Freelancers Association (PAFLA) has called on the Federal Board of Revenue (FBR) and the Ministry of Finance to continue supporting Pakistan’s growing freelancing and digital workforce in the Federal Budget 2026-27. PAFLA has recommended retaining the reduced tax rate of 0.25 percent on foreign exchange earnings for the next ten years, alongside allocating funds for capacity-building programs, establishing freelancing hubs in multiple cities, and providing subsidies for internationally recognized certifications. PAFLA Chairman Ibrahim Amin emphasized that extending the 0.25 percent tax regime would encourage freelancers to channel their earnings through local banks and inspire students, young professionals, and women to adopt freelancing as a sustainable career path. He noted that freelancers registered with PSEB currently benefit from the 0.25 percent rate, and PAFLA is eager to work closely with PSEB to simplify the registration process so more freelancers can access these incentives. “A stable, simple tax regime benefits the entire digital economy, freelancers, software houses, and the broader IT industry alike,” he said. Citing the ILO’s recognition of Pakistan as one of the world’s largest providers of digital labour, Chairman Amin added that this reflects the collective strength of Pakistan’s tech and digital ecosystem. According to the State Bank of Pakistan, freelancing export receipts surged to $959 million during July-April FY2025-26, up 49 percent from the same period last year. Dr. Imran Batada, President and CEO of PAFLA, said the government should also refrain from imposing additional taxes on content creators producing knowledge-based content, including skills training, news and analysis, educational content, and infotainment. He cautioned that complex tax classification mechanisms could push digital workers toward informal channels, reducing documented remittances and weakening Pakistan’s foreign exchange position, an outcome that would affect the entire industry. He also urged the government to invest in improving payment infrastructure, including a globally integrated national payment gateway, a step that would benefit all digital service providers across Pakistan. “Pakistan’s freelancers have contributed nearly $1 billion in foreign exchange this fiscal year. These are young Pakistanis from every corner of the country, competing globally and bringing dollars home. Together with the broader IT industry, they represent Pakistan’s greatest economic opportunity,” Dr. Batada concluded.

KARACHI The Pakistan Software Houses Association (P@SHA) has called for a clear distinction between genuine project-based freelancers and full-time remote employees working for foreign companies in its proposals for the Federal Budget 2026–27. The association warned that the lack of proper differentiation is causing serious distortions in the taxation of the digital economy. P@SHA highlighted growing reports of misuse of the freelancer tax framework. Many IT companies are allegedly exploiting the system—originally designed for independent gig workers—through “tax arbitrage” to lower their tax obligations. This practice is artificially inflating freelance export figures and creating an uneven playing field, ultimately harming genuine freelancers by limiting their opportunities and benefits. Despite various global and domestic challenges, Pakistan’s freelance earnings reportedly reached $950 million in the first ten months of the current fiscal year, seemingly surpassing major competitors like India, China, and the UAE. According to P@SHA, this trend is undermining fiscal fairness and damaging the formal IT sector. The association reiterated its support for a supportive environment for authentic freelancers while giving priority to the sustainable growth of registered IT companies and the gradual formalization of the gig economy. To ensure long-term stability, P@SHA has recommended extending the existing 0.25% final tax regime (FTR) for IT exporters and genuine freelancers for the next 10 years. The association stressed that policy continuity is crucial for attracting international clients, maintaining steady foreign exchange inflows, and strengthening registered technology firms. A central recommendation is the formal classification of digital workers. Independent, project-based freelancers should continue to enjoy the simplified tax regime, while individuals working full-time for foreign employers on fixed salaries should be taxed under the standard progressive income tax slabs applicable to salaried persons. Tufail Ahmed Khan, Honorary President of the Global Freelancers Union (GFU), endorsed P@SHA’s position, stating that authentic freelancers deserve to retain the 0.25% final tax benefit, whereas remote professionals on fixed salaries from overseas should be taxed appropriately as salaried employees. This clear distinction aims to create a level playing field for local IT companies, which invest significantly in infrastructure, regulatory compliance, employee benefits, and training, but currently face unfair competition from unregistered remote work arrangements. P@SHA Chairman Sajjad Syed emphasized that formalizing the tax treatment of full-time remote workers will help protect the domestic corporate sector, promote documentation of the economy, and encourage individual contributors to build structured, globally competitive IT businesses. Additionally, P@SHA called for structural reforms including simplified banking procedures, smoother inward remittance systems, and easier tax filing processes. While acknowledging the important role freelancers play in youth employment and digital exports, the association believes the long-term objective should be to help them scale up into formal organizations. The proposals also stress the need for substantial national investment in high-growth areas such as Artificial Intelligence, cloud computing, and cybersecurity. Through equitable taxation policies and strategic investments, P@SHA aims to position Pakistan as a leading global hub for formal, high-value technology outsourcing and innovation.

Islamabad, Pakistan, In a significant move to advance Pakistan’s digital economy and strengthen youth-driven innovation, young leader and fintech advocate Ibtisam Babar has been appointed as the Focal Person for the Prime Minister Youth Programme (PMYP) Fintech Division under the Prime Minister’s Digital and Cashless Pakistan Initiative. The official appointment letter was handed over by Chairman Prime Minister Youth Programme, Rana Mashhood Ahmad Khan, during a special meeting focused on empowering youth through technology, innovation, and financial inclusion. In his new role, Ibtisam Babar will lead the PMYP Fintech Division with a strategic focus on expanding youth financial inclusion, promoting digital payment systems, supporting fintech policy reforms, and transforming higher education institutions into digitally integrated and cashless ecosystems across Pakistan. The initiative is aligned with the broader vision of the Prime Minister’s Digital and Cashless Pakistan agenda, which aims to create a technology-driven economy where young people become key contributors to innovation, entrepreneurship, and sustainable digital transformation. As Focal Person, Ibtisam Babar will work closely with stakeholders from academia, fintech industries, innovation ecosystems, and youth communities to create opportunities that improve digital accessibility, financial empowerment, and nationwide youth engagement. Widely recognized for his leadership and impact-driven initiatives, he has emerged as one of Pakistan’s prominent young voices in entrepreneurship, innovation, and community development. Over the years, he has played an important role in connecting students, startups, universities, and policy-level platforms to support youth empowerment and economic inclusion. His work has largely focused on strengthening startup ecosystems, promoting innovation-led communities, encouraging leadership among students, and driving initiatives related to digital transformation and financial inclusion. Through several national initiatives and youth-focused platforms, he has contributed to building collaborative ecosystems that empower young entrepreneurs and aspiring changemakers across the country. Ibtisam Babar’s efforts have earned him multiple recognitions, including Young Entrepreneur of the Year, Future Leader of the Year, inclusion among the 100 Young Leaders of Pakistan, and recognition in Connected Pakistan 30 Under 30. He has also represented Pakistan at various national and international forums dedicated to innovation, entrepreneurship, youth leadership, and technology-driven development. Speaking on the occasion, Rana Mashhood Ahmad Khan said that Pakistan’s youth are the driving force behind the country’s digital future. He described Ibtisam Babar as a representative of a new generation of visionary leaders who understand innovation, community impact, and the transformative power of technology. He added that the appointment reflects the government’s commitment to empowering young minds under the vision of a Digital and Cashless Pakistan and expressed confidence that Ibtisam Babar’s leadership would help accelerate financial inclusion, digital adoption, and youth engagement nationwide. Expressing gratitude on his appointment, Ibtisam Babar said he was deeply honored by the trust placed in him by the PMYP leadership. He described the responsibility as not just an appointment, but a mission to empower Pakistan’s youth through fintech, innovation, and digital accessibility. He emphasized the vision of building a financially inclusive, digitally connected, and cashless Pakistan where every young individual has access to opportunities, technology, and economic empowerment. He also expressed his commitment to working with institutions, innovators, and communities across the country to help turn this vision into reality. The appointment marks another important milestone in Pakistan’s journey toward building a future-ready digital economy powered by innovation, youth leadership, and inclusive technological advancement.

Pakistan, May 20, 2026 – BingX, a leading cryptocurrency exchange and Web3-AI company, today marked its 8th anniversary with the unveiling of its “Infinite Vision”, a long-term strategy that reflects the company’s evolution from a crypto exchange into an AI-native, multi-asset trading platform. It also embodies BingX’s ambition to go beyond crypto and build a more connected trading experience across digital assets, traditional financial markets, and emerging opportunities. The strategy is centered on four pillars: expanding multi-asset access, advancing AI-native trading, strengthening derivatives leadership, and accelerating localization. Multi-Asset, Multi-Market As trading increasingly extends beyond cryptocurrencies, BingX has placed a deep focus on broadening its product suite across multiple assets and market opportunities.Through BingX TradFi, users can already trade more than 100 traditional financial products, including gold, silver, stocks, commodities, forex, and indices.In its most recent additions, BingX announced SpaceX pre-IPO trading, and a world-first OpenAI pre-IPO airdrop on the platform, delivering exclusive traditional asset opportunities to its global users. An AI-Native Ecosystem At the center of Infinite Vision is the expansion of its intelligent, interconnected ecosystem. Through BingX AI, the company has built AI-native trading tools designed to simplify market analysis, strategy development, and decision-making for everyday traders.Integrated across TradFi, copy trading, and derivatives, BingX AI connects intelligent technology with community-driven trading to create a smarter and more accessible experience for users worldwide. Deepening Derivatives Leadership As a top-tier global derivatives platform, BingX continues to invest in futures infrastructure, product innovation, and next-generation trading tools.Building on recent launches such as Futures Trading 2.0 and EventX, the company is expanding its derivatives ecosystem to support a broader range of trading strategies across crypto, traditional financial markets, and event-driven opportunities. Accelerating Global Expansion Localization remains another major pillar of BingX’s global strategy, with the company continuing to deepen its regional presence through localized campaigns, strategic partnerships, community engagement, and offline activations. As part of its 8th anniversary celebrations, BingX will host offline community events across multiple cities globally to strengthen connections with communities. “Infinite reflects both where the industry is heading and what BingX is building for the future,” said Pablo Monti, BingX Spokesperson. “The next generation of trading will not be limited to a single asset class, market, or technology. We envision BingX as an interconnected ecosystem, where users can seamlessly access crypto, traditional financial markets, and emerging opportunities through AI-native tools, intelligent infrastructure, and localized experiences tailored to global communities. Our mission is to build a more accessible trading platform for users worldwide.” About BingX: Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide. Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels. Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency. BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.For more information, please visit: https://bingx.com/

Karachi, May 6, 2026: National Bank of Pakistan proudly announces the launch of NBP SmartPay, a state-of-the-art digital payment platform designed to transform the way businesses manage their financial transactions. NBP SmartPay is a comprehensive cash management solution tailored for corporate, commercial, and SME clients, enabling seamless, secure, and efficient handling of payments. The platform integrates a wide range of essential financial services into a single, user-friendly digital interface. With NBP SmartPay, businesses can conveniently execute vendor payments, process payroll, pay utility bills, and manage tax payments, all through one unified platform. This streamlined approach not only enhances operational efficiency but also reduces the complexity traditionally associated with financial management. Sharing his thoughts, Mr. Rehmat Ali Hasnie, President & CEO, NBP, said, “The launch of NBP SmartPay marks a significant milestone in our digital transformation journey. At NBP, we are committed to enabling businesses across Pakistan with innovative financial solutions that drive efficiency, foster growth, and support the country’s transition toward a digitally inclusive economy.” Commenting on the launch, Mr. Adnan Nasir, Chief Digital Officer, NBP stated, “NBP SmartPay represents our continued commitment to innovation and customer-centric solutions. By leveraging cutting-edge technology, we aim to empower businesses with greater control, transparency, and convenience in managing their financial operations.” The platform is built with advanced security features to ensure safe transactions, while its intuitive design allows users to navigate and manage their financial activities with ease. NBP SmartPay is expected to play a key role in supporting businesses as they increasingly adopt digital solutions to drive growth and efficiency.

Islamabad, May 01: Ericsson has underscored the transformative role of advanced connectivity, artificial intelligence (AI), and 5G in accelerating Pakistan’s digital economy at the inaugural EU–Pakistan Business Forum 2026. Read More: The two-day forum, held in Islamabad, brought together senior government officials, global technology leaders, investors, and industry stakeholders to explore avenues for investment, innovation, and deeper economic cooperation between Pakistan and the European Union. Participating in high-level roundtable discussions and keynote sessions, Ericsson highlighted how next-generation networks and AI-driven infrastructure can unlock productivity gains across key sectors, including logistics, energy, mobility, and financial services—areas critical to Pakistan’s long-term economic growth. The discussions reinforced that connectivity is no longer a supporting utility but a core economic enabler, directly impacting competitiveness, private sector expansion, and digital inclusion. Ericsson Pakistan’s Country President, Aamir Ahsan, speaking alongside the Federal Minister for IT and Telecom, emphasized the importance of strong public–private partnerships in driving digital transformation at scale. He noted that enabling policies, spectrum readiness, and investment-friendly frameworks will be essential to fully realize the potential of 5G and AI in Pakistan. At its exhibition booth, Ericsson showcased its latest innovations and technology capabilities, demonstrating how differentiated, high-performance networks are enabling new business models, enhancing operational efficiency, and supporting emerging use cases across industries. The company’s engagement at the forum comes at a time when Pakistan is increasingly prioritizing digital infrastructure as a key pillar of economic development. Industry experts note that accelerated adoption of advanced connectivity solutions could significantly enhance productivity, improve service delivery, and attract foreign investment into the country’s growing digital ecosystem. With a long-standing presence in Pakistan, Ericsson continues to collaborate with local telecom operators, enterprises, and public sector stakeholders to develop secure, scalable, and future-ready networks—positioning connectivity as a catalyst for innovation, economic resilience, and inclusive growth.