- Thursday | 24 Aug, 2023
- Sajid Amin Javed, Maryam Waqar, Fareeha Adil, Nudrat Fatima
- Research Reports,Project Publications
Increasing evidence suggests that financial inclusion results in numerous advantages including positive economic growth and more empowered individuals. Female financial inclusion and entrepreneurship may exponentially speed up economic development, according to emerging evidence. However, as per the World Bank, only 21% of Pakistan's adult population is financially involved, according to the World Bank. Women make up over 50% of the population, yet only 6% of them are financially included in the country. Micro-entrepreneurship, in particular, is a significant strategy for accelerating financial inclusion at the mass level and has received strong backing from the private sector, government, and development organizations. However, just 1% of women in Pakistan are involved in business, compared to 21% of males. On a similar vein, Pakistan ranks lowest out of 77 nations in the Female Entrepreneurship Index (FEI).
In Pakistan’s resource-constrained economy, lack of financial participation prohibits women’s economic empowerment and opportunities to improve circumstances. In addition, barriers to their employment and social mobility, access to education and training, and discriminatory cultural norms all contribute to women in particular being left behind.
Sustainable Development Goal (SDG) 8 aims to ‘promote sustained, inclusive and sustainable economic growth’. It ensures productive and decent employment for all. The corresponding targets aims to achieve and sustain a decent per capita economic growth and productivity in developing economies. In order to achieve this, market and competition reforms are required to unlock creativity, innovation and entrepreneurship. Goal 8’s is particularly important in Pakistan due to the exclusion of women from the mainstream.
Based on this, and in light of the ongoing discourse, this report discusses constraints to women entrepreneurship and leadershaip in the selected area and priority actions needed to accelerate progress concerning women economic empowerment and leadership. In particular, we focuson: Women Enterpreneurship (WE), Capacity building, Leadership skills, Inclusion in the financial system, policy interventions and implementation to achieve priority actions.