Uzair bin Farid

Pakistan direly needs financial inclusion of women to turn over 50% of its population into a productive workforce, President Dr Arif Alvi said. The president said that helping the women promote their business startups through information technology (IT) was the fastest route towards their empowerment.

Addressing an event BizNet 2023 themed “Celebrating Diversity, Inclusion and Pakistan Startups” in Islamabad, the president said financial empowerment of women and other under-represented groups, such as differently-abled persons, was crucial for the progress of the country.

According to a press statement received by WealthPK, President Alvi emphasised gender parity at the level of organisations and companies, and urged them to ensure their representation in mainstream and leadership roles. In the digital age, he said, technology could increase the productivity and efficiency of a business. He stressed that women needed to be encouraged to become bank account holders in order to keep authority over their finances.

The president expressed concern that 50% of the women graduates of medical colleges quit pursuing their careers after wedlock, which was a big loss of a talented workforce. He proposed counselling parents, husbands, and women doctors to help them encourage in utilising their professional capabilities.

The president regretted that the business loans for women offered by the State Bank of Pakistan (SBP) were not even utilised by 5% of them. In this regard, he said that it was the responsibility of women parliamentarians and other prominent women to effectively communicate the message to ensure gender equity.

He mentioned that the Special Technology Zones Authority (STZA) could also play a role in advancing the role of women in diverse fields of the economy. Birgit Lamm, Country head of Germany’s Friedrich Naumann Foundation, said at the event that her organisation was committed to promoting entrepreneurship among the masses, including women, to help them engage in business activities in a dignified manner.

Iftikhar Hussain, CEO of Transforming Hub and Founder of Women Business Network, said Biznet aims to bring the legacy of big businesses, financial institutions, policymakers, and successful startups under one roof to initiate a much-needed collaboration for the rapid growth of the economy. aFaryal Sadiq, Chief Sustainability Officer of Interloop startup, emphasised extending technical support to women to ensure equity and diversity in businesses.

Credit: Independent News Pakistan-WealthPk