Pakistan’s WBL index up 25 points

ISLAMABAD: Pakistan has significantly improved its score on the entrepreneurship indicator of Woman, Business and the Law (WBL) index, from 50 to 75 points, as per the WBL Report 2021, a statement said on Wednesday.

The rise is mainly attributed to reforms introduced by the Securities and Exchange Commission of Pakistan (SECP), enabling women to register a company effectively and promptly, it added.

The WBL report is the World Bank’s publication, that evaluates laws and regulations of 190 countries to identify requirements that restrict women’s economic opportunities.

The report covers eight broad areas; mobility, workplace, pay, marriage, parenthood, entrepreneurship, assets, and pension.

In the 2021 report, Pakistan has improved its score on two indicators; entrepreneurship and workplace, resulting in upgrading the overall score to 55.6, from 49.4 in 2020. It has been included in five economies that have introduced reforms to improve entrepreneurship opportunities for women, the report showed.

It is encouraging to note that from March 2020 to March 2021, SECP registered a total of 21,168 companies, of which 5,145 companies have at least one woman director, which accounts for 24.3 percent of the total incorporation during the period. SECP, cognizant of the vital role played by women in economic growth, has introduced several steps to improve gender mainstreaming within the organisation.

The recent measures included an increase in maternity leave from 90 to 180 days, 48 percent representation of women in new hiring, and 23 percent representation in recent promotions.