Islamabad : Experts highlighted the challenges faced by women entrepreneurs in Pakistan on Saturday 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 Nauman Foundation (FNF).
Dr. Vaqar Ahmed Joint Executive Director of SDPI stated that the research reveals the need to improve financial literacy and change societal attitudes towards women in small and medium enterprises (SMEs).
He noted that while the report addresses known issues such as credit and regulatory hurdles a broader approach involving both the government and private sectors is needed to effectively address these challenges.
Birgit Lamm FNF Country Head mentioned that women face unique barriers including societal biases and difficulties in accessing capital.
She emphasized the importance of policy changes and educational initiatives to support female entrepreneurs who constitute 22% of Pakistan’s labor force but often encounter systemic obstacles.
Faeyza Khan from SDPI highlighted that the report’s findings include limited access to networks information and mentorship for women compared to their male counterparts.
The study also noted that only 1% of SMEs in Pakistan are women owned a stark contrast to higher percentages in neighboring countries.
Gulalai Khan from the ReMIT Programme and Murium Hadi from the Asian Development Bank stressed that the regulatory environment and societal attitudes significantly impact women’s ability to start and grow businesses.
They called for systemic changes 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.
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