Pakistani women can prove to be among the most effective drivers of growth, with the potential to stem the slide and help put the economy back on track.

If channelised, their zest for economic security and craving for a dignified existence may over-compensate for comparatively lower formal education and skill levels. The enormity of challenges with record high inflation, rising joblessness and dismal investment call for extraordinary innovative steps to perk up the economy beyond bailouts.

Suppose the country, with the help of friendly nations and development partners, succeeds in containing the economic meltdown and political instability. In that case, gender-inclusive strategies for growth revival may deliver better and faster in a country of 220 million people that global monitors confirmed has not been fair to half the population.

Gender parity has now been recognised as means and a target of progress. It is a key component of the consensus document of United Nations development guidelines that translated the collective wisdom of humanity and are surmised in Sustainable Development Goals (SDGs).

According to UNDP, barely 7pc of women in Pakistan are bank account holders, and it will take at least three decades for all the women in the country to have bank accounts

The high cost of living crisis, amidst rising unemployment and underemployment in Pakistan, is impacting women disproportionately as she tries to cater to family needs with meagre resources.

“I try to make up for the material loss to the family by working harder to provide care and comfort, especially to children and elderly more than before. When income dives, what options does a poor family have but to adjust to harder reality and chop the budget?” said Fauzia, 32, whose electrician husband lost his regular job at a home appliance company two months back and now working privately.

Policies conducive to the economic mainstreaming of women can earn the government’s goodwill, consolidate the political base, and help improve Pakistan’s image. Moreover, there is a strong possibility of attracting global capital flows if the government announces women friendly set of policies for drawing them into workers’ and employers’ folds, some proponents of rights argue.

“The government and the private sector can launch inexpensive crash courses to skill interested ladies for launching, managing and expanding online micro-businesses,” an expert advised.

“Facilitating the participation of ladies, especially in the digital economy, may serve the dual purpose of supporting cost-effective income generation activities and realising the untapped potential,” she added.

Hundreds of thousands of young Pakistani women are quietly operating in their capacities as service and niche product providers using tech tools and platforms to generate income. There are artists, teachers, doctors, architects, social workers, cooks, designers, lifestyle experts, event managers, tailors, house helpers, etc., experimenting with technology and capitalising on possibilities at social media platforms for business. There is a vast scope for deepening and expanding the base of the digital economy.

Women’s economic empowerment is at the core of issues related to gender parity. Any progress in this direction will generate multiplier effects and pave the way for desirable changes in cultural/societal norms currently loaded against women.

“It may serve the democracy better if lady legislators, across the political divide, show leadership by coming together and raising voice against petty confrontational politics at a time of immense economic challenges,” commented a lawyer-activist working for a big law firm.

Families dependent on women’s income are transitioning, but the nation has a long way to go to implement pro-gender equity legislation in letter and spirit, observed professionals discussing the issue. “Unless we expand the base of banked women and facilitate access to finance, I don’t see small business women graduating to join even ranks of medium scale enterprises,” a lady banker stressed.

According to the United Nations Development Programme, barely seven per cent of women in Pakistan are bank account holders, and it estimates it will take at least three decades for all adult women in the country to become bank account holders.

Discussing the resilience of women, an observer commented, “the social, economic and cultural disparity has failed to bog ladies down. Instead, they fight back and work harder than the dominant gender, not just for their families, but have risen to calls of their conscience. They are not just victims but great survivors.”

Globally recognised symbols of courage and inspiration, Pakistani women like Benazir Bhutto, Malala Yousufzai, Mukhtaran Mai, Asma Jehangir, Sabeen Mahmud and Parween Rehman, along with countless unsung stars, demonstrated bravery, perseverance and capacity of this gender to tackle adversity and bounce back stronger.

The official data in the country undermines their contribution to both economy and society, also owing to a lack of documentation in the space of their activity. A UN report confirmed that motivation to start a business and improve their income is greater in the women population in Pakistan.

The past few years have particularly been harder for women in Pakistan. Being at the bottom of the pyramid, they have had to endure more pain. “They are fed worse than male family members, expected to sacrifice more, retrenched before their male equal and suffer higher salary cuts,” noted Rehana, a rights activist.

The confluence of populist rulers and their reluctance to carry out long overdue adjustments along with dependence on donors triggered the downward economic spiral,” commented an analyst.

The global gender gap report 2022 of the World Economic Forum found South Asia trailing all other regions with a 62.3pc gender gap that will, at the current pace, take 197 years to achieve parity. Sadly, Pakistan has been projected to be the second worst country for women amongst 146 countries assessed.

The writer can be reached at asubohi@hotmail.com

Published in Dawn, The Business and Finance Weekly, March 13th, 2023