ISLAMABAD: President Dr Arif Alvi said on Thursday that Pakistan urgently required financial inclusion for women in order to turn half of its population into a productive workforce.
He stated that assisting women in promoting their business startups through information technology was the quickest path to their empowerment.
Addressing a BizNet 2023 event titled ‘Celebrating Diversity, Inclusion, and Pakistan Startups,’ he stated that financial empowerment of women and other under-represented groups such as differently-abled people was critical for the country’s progress.
Financial inclusion and gender parity
President Alvi emphasized the importance of gender parity at the organizational and corporate levels, urging them to ensure their representation in mainstream and leadership roles.
He said that in the digital age, technology can boost a company’s productivity and efficiency. He added that including women in IT-related startups could help them earn a living from home.
He emphasized the importance of encouraging women to open bank accounts in order to maintain control over their finances. Despite the rights given by Islam to women, he stated that culture and harassment were the two main obstacles to their freedom.
He emphasized the importance of society adopting a positive attitude towards women by creating opportunities and ensuring a harassment-free culture for them.
The president voiced concern that fifty percent of women medical school graduates abandon their careers after marriage; resulting in a significant loss of a talented workforce. He proposed counseling for parents, husbands, and female doctors to encourage them to use their professional abilities.
He stated that both religion and the country’s law supported women’s right to inherit, but that societal ills hampered this in the majority of cases.
The president expressed regret that the State Bank of Pakistan’s business loans for women were only used by 5% of them.
In this regard, he stated that it was the responsibility of female legislators and other prominent women, to effectively communicate the message in order to make sure gender equity. He mentioned that the Special Technology Zones Authority could help advance the role of women in various fields of the economy.
Birgit Lamm, Country Head of Friedrich Naumann Foundation of Germany, stated that her organization is dedicated to promoting entrepreneurship among the masses, including women, in order to assist them in engaging in business activity in a dignified manner.
According to Iftikhar Hussain, CEO of Transforming Hub and Founder of Women Business Network, Biznet aims to bring the legacy of big business, policymakers, financial institutions, and successful startups under one roof to start a much-needed collaboration for the economy’s rapid growth.
Faryal Sadiq, Chief Sustainability Officer of the Interloop startup, spoke about providing technical assistance to women in order to ensure business equity and diversity.
