By integrating independent contractors and utilising the potential of Pakistan’s youth, who make up 63 percent of the population, the nation may significantly strengthen its economy.
According to experts, Pakistan should begin trading services with its neighbours, particularly in the area of freelancing, by using a third party as a financial intermediary.
In the fourth industrial revolution, the human brain, laptop, and internet connection were the components of production, according to WealthPK interviewee Hamza Saeed, head of strategic planning and client services at Special Technology Zones Authority (STZA). He claimed that by working remotely for the USA/European market, freelancers may make millions of dollars. Freelancers only asked for first aid from the government, he continued.
He claimed that by browsing several websites, independent contractors may locate work for themselves. He continued by saying that, regrettably, the government did not even have access to data on the number of freelancers in the nation, despite the Oxford Institute’s claim that Pakistan ranked fourth in the world for the freelancing sector.
“Most of the freelancing firms start their businesses from garages by taking loans. In a few months they pay back the debt because they can make $2,000 to $3,000 per month,” said Hamza. He said that the consumption patterns had been changed and the capabilities of the young generation should be utilised in the technology sector. He said that 80 percent staff of STZA was less than 30 years of age. The average age of director is 32 years.
“The young people are the only option to take technology forward because the age of the emerging technology is also eight to nine years,” said Hamza. He said that a Pakistani engineer did not have opportunities in the applied field but he could get a job of a 200,000 salary if he was trained to work online.“We have a large population with a stem background. We just need to register them with global certification. They can pay back in such a way that Pakistan will get rid of foreign loans,” he said.