ISLAMABAD: The International Finance Corporation (IFC) of the World Bank is entering into a partnership with the Pakistan Business Council (PBC) to help improve employment opportunities for women.

IFC considered its engagement in Pakistan important because only 7 per cent of the country’s work force comprise of women, the third-lowest rate in the world. The initiative is part of a larger IFC effort to drive economic development in Pakistan.

Through the partnership, IFC and the PBC will show businesses how they can tap into a large – and underutilised – pool of female talent.

The PBC represents 60 of the country’s largest private-sector companies. A recent survey by the group, Gender Diversity in the Business Sector of Pakistan, found that the vast majority of its members had workforces that were less than 20pc female.

“Our partnership with the Pakistan Business Council aims to promote female participation in Pakistan’s labour force and support the country’s economy which right now is missing out on a talented pool of potential workers,” said Nadeem Siddiqui, IFC Senior Manager in Pakistan. “Investing in women is a smart solution to business challenges and, among other things, helps firms maintain a pipeline of future leaders,” he said.

Pakistan has the second largest gender gap, ranking 143 out of 144 countries in the gender equality index. This low ranking indicates the magnitude of prevailing gender disparities in earnings, education, health, and political participation.

“Gender equality is one of our key strategic areas and the collective efforts of PBC and IFC will further enable equal opportunities for women in the work place,” said Fuad Hashimi, executive director for PBC’s Centre of Excellence in Responsible Business. “This will help reduce the gender gap that currently exists and contribute to the growth of Pakistan’s economy.”

Under the initiative, IFC will train CEOs and human resource directors at PBC-member companies on how to better recruit, retain and promote women.

Published in Dawn, December 12th, 2017