In pursuit of fostering both economic stability and enhanced female workforce participation, the State Bank of Pakistan (SBP) has initiated a noteworthy endeavor. It involves extending interest-free loans to unemployed women, empowering them to embark on substantial entrepreneurial ventures.
During a seminar titled ‘Women Bankability and Banking on Equality’ at the Government Polytechnic Institute for Women in Dera Ismail Khan, Fazal Muqeem, Deputy Chief Manager of SBP in Dera Ismail Khan, articulated this pivotal announcement.
Muqeem underscored that women, through the establishment of their own businesses, would not only be able to provide for their families but also confront the pervasive impact of the current inflationary trends that affect every echelon of society. He highlighted the financial difficulties faced by economically disadvantaged individuals in meeting their daily expenses due to limited income avenues.
In light of the restricted employment opportunities within the country, the pursuit of self-employment emerges as the most viable option in such circumstances, according to Muqeem. He elucidated that these initiatives are the result of collaborative efforts between the Prime Minister and the central bank, aimed at cultivating productive citizenship among unemployed women.
These policies have facilitated the opening of bank accounts for unemployed women on an equitable basis with men, thereby enabling them to access interest-free loans of up to Rs0.5 million.
Muhammad Zubair, Assistant Director, asserted that the contemporary era is characterised by digital mobility, and citizens should harness this resource to their advantage. He encouraged citizens to become income tax filers, which would help them reduce their tax liabilities.
Sara Khan, Principal of GPI for Women, expressed her gratitude to the SBP for their support and highlighted their institution’s dedication to equipping students with skills that empower them to be self-sufficient and valuable contributors to society.
According to Geo News, she envisioned that numerous women would benefit from SBP’s policy in the future and hoped that such insightful seminars would continue to be organised, enabling the underprivileged and eligible women of Dera Ismail Khan to reap the benefits.
The event also saw the presence of key figures such as Muhammad Amir Ejaz, Assistant Chief Manager of SBP in Dera Ismail Khan, Rizwanullah Shah, Zafar Awan, Placement Officer at GPI (Women), and a substantial gathering of teachers and female students.