Women entrepreneurs demand govt help

Businesswoman says impossible to meet conditions of loans set for small firms

ISLAMABAD: The prolonged lockdown imposed to curb the spread of the novel coronavirus (Covid-19) has not only impacted the economy in general, but it has also damaged businesses owned and run by women who desperately require help from the government.

This was urged by Islamabad Women's Chamber of Commerce and Industry (IWCCI) Founder President Samina Fazil. In a statement on Friday, she said that women running small businesses are amongst the hardest hit due to the pandemic, but their plight is not being taken seriously by policymakers.

Fazil said that a majority of the country’s population comprises women, but they are treated negatively while no announcements [amidst packages for varying industries] were made to help businesswomen.

And even if they are, Fazil lamented that such packages are never implemented.

She added that government officials do not take issues confronting women seriously while the central bank is also not interested in helping them ride out the crisis. The State Bank of Pakistan (SBP), she said, is only interested in supporting commercial banks and big corporations while the stringent terms and conditions for forwarding loans to small businesses, cottage industry and microfinance sector are impossible to meet.

“The SBP should announce interest-free loans for small businesses, cottage industry and the microfinance sector if it is interested in an economic revival,” she underlined.

A majority of women earn their bread and butter through the services sector, which has been badly hit by the lockdown, therefore the government should allow the reopening of beauty parlours, boutiques, salons, home kitchens, handicraft centres and consultancy services etc., she demanded.

The business leader said that many businesses run by women have collapsed while others are in danger of failing soon if the government fails to come to their rescue.

Fazil said that business women deserve relief in rent, taxation and utility bills and that Prime Minister Imran Khan should announce a grant for them as they are striving hard to survive amidst the lockdown.

Published in The Express Tribune, May 16^th, 2020.