KARACHI: Since its launch earlier this year, over 50,000 freelancers in Pakistan have signed up with Elevate to receive their earnings from foreign countries.

Freelancers are growing rapidly in the country, but most of them complain that banks are charging too much for their services.

Elevate, a fintech based in London and Dubai, has secured $5 million in financing to expand further into South Asia. The company has raised a total of $10m in equity and debt from investors.

JazzCash users cross 11m

JazzCash, a leading mobile wallet and digital financial services platform, has surpassed 11 million active app users. Overall, JazzCash hosts 44 million registered users, with more than 30pc female customers, 17m monthly active users, 300,000 merchants and over 245,000 agents across Pakistan.

US envoy visits NSCL

A US delegation, led by Acting Consul General Jimmy Mauldin of the US Consulate in Karachi, visited the National Steel Complex (NSCL) on Tuesday at Port Qasim.

According to a press release, it is the country’s first and largest fully integrated, environmentally friendly steel complex and uses Direct Reduced Iron (DRI) technology.

Mauldin emphasised the crucial role of a robust steel sector in driving economic development. He identified NSCL as a potential catalyst for Pakistan’s industrial progress. This visit underscores the US commitment to strengthening trade ties between the two nations.

Published in Dawn, June 7th, 2024