INP-WealthPk

Increased woman workforce to help lift economy: BOI

May 18, 2023

Ayesha Mudassar

Women empowerment is a valuable instrument for Pakistan to pull millions of people out of poverty, reduce dependency burdens, lower mortality rates, and foster sustainable development. Ambreen Iftikhar, the Additional Secretary of the Board of Investment (BOI), expressed this view while talking to WealthPK. Women empowerment includes activities that promote self-worth, provide the right and power to manage lives, access to resources and opportunities, and the ability to influence social change. However, these remain inaccessible to women in Pakistan.

According to the Global Gender Gap Index Report 2022, Pakistan ranks 135/156 for educational attainment, 145/156 for economic participation and opportunity, 143/156 for health and survival, and 95/156 for political empowerment. As per the International Labor Organization (ILO) estimates, the Female Labor Force Participation (FLFP) rates in Pakistan are very low, ranging from 14-22 percent over the 1990-2019 period.

WealthPK explored that Pakistan has taken progressive steps towards the protection of women's rights by introducing pro-women legislation, including the National Gender Policy Framework (2022), Anti-Rape Ordinance, and the Domestic Violence against Women (Prevention and Protection) Act. However, implementing the aforementioned laws remains weak at the national and sub-national levels. The Pakistan Vision 2025, which aligns with the United Nations Sustainable Development Cooperation Framework (UNSDCF) 2023-2027 for Pakistan, also prioritizes gender equality.

The BOI additional secretary told WealthPK that the country’s current economic situation demands active participation of women. “Enhancing female participation in the workforce, encouraging them to initiate startups, and using innovative ideas will surely help resolve the persistent economic problems plaguing the country,” said Ambreen Iftikhar.  As stated by the World Bank’s recent report, Pakistan’s Gross Domestic Product (GDP) can increase by 60 percent by the year 2025 if only the female labor force becomes equal to the male working population.

Women empowerment is indeed the way forward. Empowering women and protecting their rights is the central pillar of the country's development paradigm. This phenomenon should be the centre of agenda of the government and development partners. In her concluding remarks, Ambreen Iftikhar said, “The success of women is inevitably the success of nations. Let's move in that direction.”

Credit: Independent News Pakistan-WealthPk