ISLAMABAD (APP) - Experts highlighted on Saturday the significant challenges faced by women entrepreneurs in Pakistan during the launch of a new report on financial inclusion.
According to the statement the report, titled “Advancing Financial Inclusion for Women Entrepreneurs in Pakistan,” was presented by the Sustainable Development Policy Institute (SDPI) in collaboration with the Friedrich Naumann Foundation (FNF).
Dr Vaqar Ahmed, Joint Executive Director of SDPI, emphasised that the research reveals a crucial need to improve financial literacy and shift societal attitudes towards women in small and medium enterprises (SMEs).
He pointed out that while the report addresses known issues such as credit and regulatory hurdles, a broader approach involving both government and private sectors is needed to address these challenges effectively.
Birgit Lamm, FNF Country Head, said that women face unique barriers, including societal biases and difficulties in accessing capital.
She stressed the importance of policy changes and educational initiatives to support female entrepreneurs, who make up 22pc of Pakistan’s labor force but often encounter systemic obstacles.
Faeyza Khan from SDPI said that the report’s findings, which include the limited access women have to networks, information, and mentorship compared to their male counterparts.
The study highlights that only 1% of SMEs in Pakistan are women-owned, a stark contrast to higher percentages in neighboring countries, he added.
Gulalai Khan from the ReMIT Programme and Murium Hadi from the Asian Development Bank both stressed that the regulatory environment and societal attitudes significantly impact women’s ability to start and grow businesses.
They called for a systemic change in perception and support mechanisms to help women overcome these barriers.
Fareeha Armughan from SDPI and Salman Shahzad from the National Institute of Banking and Finance (NIBAF) emphasized the need for comprehensive financial literacy programs and innovative solutions to improve women’s financial inclusion.
The report underscores the necessity of addressing both structural and perceptual barriers to empower women entrepreneurs and enhance their contribution to the economy.