Govt renews commitment to empowering women

ISLAMABAD:

In celebration of the Women Entrepreneurship Day, the Ministry of Industries and Production has reaffirmed its dedication to uplifting the women entrepreneurs of Pakistan by addressing the challenges they face.

Federal Minister for Industries and Production Rana Tanveer Hussain, Federal Secretary of Industries and Production Saif Anjum and Small and Medium Enterprises Development Authority (Smeda) CEO Socrat Aman Rana met at the Smeda office on Tuesday.

They expressed their common commitment to creating a conducive business environment for women entrepreneurs in the country.

Rana Tanveer Hussain stressed that "this year's celebration of the World Women Entrepreneurship Day has a special significance as Smeda is poised to introduce a transformative women entrepreneurship policy, aimed at fostering growth, enhancing financial inclusion and increasing market access for women entrepreneurs".

Currently, the minister mentioned, only 10% of women entrepreneurs had access to formal markets and just 2% utilised online marketplaces. Likewise, a 34% gender finance gap and only 3.2% share in SME lending for women-led enterprises point to a significant room for financial inclusion. In this regard, Smeda is working to bridge gaps to empower women entrepreneurs to realise their full potential and become key drivers of Pakistan's economic future.

The industries minister praised Smeda's efforts to uplift women entrepreneurs and admired the resilience of Pakistani women. "The Women Entrepreneurship Day celebrates the immense potential of Pakistan's women, especially those in rural areas, who sustain families and contribute significantly to our economy. The government is committed to breaking down barriers and fostering an ecosystem where women-led businesses can thrive," he remarked.

Federal Secretary of Industries Saif Anjum, in his statement, underscored the ministry's commitment to drawing up supportive policies for women entrepreneurs. "Women Entrepreneurship Day reflects the pivotal role women play in shaping Pakistan's economic landscape. Contributions of businesswomen are driving innovation and job creation across the country," he said.