Islamabad  -  The State Bank of Pakistan (SBP) and Shirakat–Partnership for Development co-hosted an event to commemorate International Women’s Entrepreneurship Day on November 19, 2024. The gathering highlighted the critical role of women entrepreneurs in Pakistan’s economic landscape and reinforced the commitment of stakeholders to fostering inclusive growth and empowerment. The State Bank of Pakistan (SBP) has been at the forefront of promoting financial inclusion and gender equality through its Banking on Equality Policy, which fosters inclusive practices within the financial sector. This policy aims to improve women’s access to financial services, helping them gain the financial resources needed to grow their businesses and achieve economic independence. SBP’s commitment to gender-inclusive banking is helping create an ecosystem that supports women entrepreneurs in Pakistan.

Shirakat—Partnership for Development is a local Pakistani civil society organisation that has been working on climate justice, gender justice and economic justice for the past 19 years. Created in response to one of the most devastating natural disasters in Pakistan’s history—the earthquake in 2005—Shirakat was originally constituted of a group of loosely connected volunteers seeking to address the needs of affected women and girls. Since the organisation was formally registered in 2010, it has expanded its scope to address myriad socioeconomic challenges Pakistani society. Under its economic justice/economic empowerment programme, it has financially and technically supported 750 women agricultural entrepreneurs to increase their income through solar drying of fruits and vegetables. The women have come together to form the first ever women agripreneurs cooperative in Pakistan. Over 4,000 young women and men have received technical and vocational training and are earning. Five hundred women microentrepreneurs have been helped to accelerate their income through capacity building measures including digital marketing and are in the process of forming an association. Over 6,000 have now access to credit. The event brought together key partners, including CARE International, Karandaaz, and several commercial banks of Pakistan.

Their participation underscored the importance of multi-sector collaboration in supporting women’s economic empowerment through access to financial resources, training, and entrepreneurial opportunities. Representatives from these organisations shared their initiatives aimed at promoting women-led enterprises and fostering inclusive economic growth.

In her address the chief guest, Ms Tahira Sheikh, the managing director of the National Education Foundation highlighted the importance of education and skill development of girls and women for a prosperous Pakistan. The guest speaker Ms Simona Lanzoni, ex-member Council of Europe and Vice President of an Italian women’s group Pangea Onlus provided insights into global and local efforts to empower women in business. A compelling role play depicted the struggles of a skilled woman facing familial opposition to her work, emphasising the importance of enabling women to utilize their talents to support their families and overcome societal barriers.