UN Women hosted a convention on CSR4Women – The Untapped Potential in Islamabad on Tuesday. The event was supported by the Norwegian government and chaired by Sima Kamil, the Deputy Governor of the State Bank of Pakistan.
The convention brought together business leaders, CEOs of private companies, heads of Chambers of Commerce, development partners and Corporate Social Responsibility (CSR) experts to deliberate on the potential role of the CSR towards fostering inclusive economic opportunities for women. “The nexus of corporate social responsibility and women’s economic empowerment presents four wins – for the private sector, the state, women and for us as UN Women Pakistan. Through our collaborative efforts, we will achieve the vision of making Pakistan the 10th largest economy by 2047,” said Sharmeela Rassool, Country Representative of UN Women in her opening address.
The convention provided an opportunity to recognize the role of women Home-Based Workers (HBWs), while identifying possibilities for their economic advancement in the CSR space. Evidence shows that HBWs contribute 1.5% of Pakistan’s GDP, the available data does not include those who are self-employed or contributing family workers. According to the Labour Force Survey for 2017-2018, out of 5.26 million HBWs in Pakistan, 81% are women. HBWs are playing an increasingly important role in the economic growth of the country. However, their contribution is undervalued with limited recognition and legal protection.
Sima Kamil, Deputy Governor, SBP, sharing a perspective in the keynote address said, “The financial sector also needs to realize its role as a key player in advancing regulatory policy and strategies towards promoting women’s access to finance and digital financial inclusion.”
She highlighted the need for introducing digital channels for lending by the financial institutions and capacity building of women for effectively accessing these tools.
