Strengthening of women’s voices at key business forums stressed

Islamabad : The voices of women need to be ensured and strengthened at the key business forums as this participation has become even more important after-COVID-19 scenario to assess the impact of the pandemic on women-led business ventures.

This was suggested by experts from public and private sectors while speaking at the online meeting on ‘Challenges of women-led exporting enterprises amid COVID-19,’ organised by Sustainable Development Policy Institute (SDPI) here Thursday.

Muhammad Adeel, joint director, State Bank of Pakistan said that the information regarding incentives for women-led enterprises should be widely disseminated by public and private forums. He said that the misconception that approaching banks to get loans is cumbersome procedure needs to be removed now. He said that SBP conducted some sessions in women Chambers of Commerce and we will do more to dissemination information regarding export finance schemes.

Imran Ahmed, Additional Director, SBP, said that the government already advised banks that 25% of loans initiated during COVID-19 should go to women. He said that the commercial banks were also asked for the deferment of loan payments. To facilitate digital needs of the women businesses, he said, SBP allowed refinance scheme as well.

Dr Vaqar Ahmed, joint executive director, SDPI, observed that the voices of women-led exporters in major business associations and Chambers of Commerce seemed missing. We need to evaluate that if women-specific schemes by Trade Development Authority of Pakistan are able to deliver the desired results.

He lamented that it is unfortunate that in COVID-19 times, banks are demanding more mark up and service charges than what is allowed by SBP. He said that It is also unfortunate that even business associations and Chambers of Commerce did not reach out to women exporters and listened to their concerns. As global lockdowns are lifted and countries resume trade in large volumes, Pakistani women-enterprises will need fin­a­ncial support and technical guidance to approach foreign buyers, he concluded. Farhana Asad, Mehek Humayun and Ahad Nazir, Head, also spoke on the occasion.