Women empowerment need of the hour

The widespread inflation and rising unemployment in Pakistan has witnessed a major shift in the traditional mindset of the male members of our society. They are now more accommodating to the idea of their women aspiring to contribute to the family's needs by earning a livelihood. Hence, microfinance programmes do not only provide an ideal platform for the women of our country access to savings and credit, but reach millions of people world-wide enabling them to a earn a livelihood for their families.
These programmes play a major role in significant contribution to gender equality and women's empowerment, as well as the progressive development of our society. Through their contribution to women's ability to earn an income, these programmes have potential to initiate a series of positive cycles of economic empowerment, resulting in a healthy environment for women and their families.
There is ample evidence of significant potential for microfinance to enable women to challenge and change gender differences at all levels in our country. There have also been many important recent innovations in products and services offered by microfinance institutions to enable women to better benefit from them. A prime example being Khushhalibank, Pakistan's first licensed microfinance bank established under the umbrella of State Bank of Pakistan. Khushhalibank has undertaken various initiatives in the past to empower the women of Pakistan by launching programmes such as the 'Jafakash Aurat Project' which was intended to support skill & development of micro enterprising amongst the women of Gawader. Under this project, KBL had trained approximately 4,500 women in skills ranging from tailoring and embroidery to beautician, commercial cooking and computer training courses.
Microfinance has gained tremendous boost in Pakistan due to its focus on social and economic uplift of the women of our society. By offering them various loan facilities, microfinance institutions have given women a chance to shape their own destiny. The funds allow them to generate sufficient amount of income that helps in providing food, shelter, clothing, and education to their families. The primary target of microfinance Institutions has continued to be the people below poverty line and women are seen as a productive source to invest money in. Microfinancing has enabled these women to play a greater role in the economic decision-making of their household, which is an achievement in itself, considering the decades of authoritarian behaviour of men. The growing microfinance sector of Pakistan has shown that women entrepreneurs demonstrate greater responsibility as compared to their male counterparts in terms of enterprise development.