Women have always been the significant half, but with 50 percent of the world’s population being female, their inclusion in the workforce is no longer an aspirational goal but a vital necessity. The developed world has experienced unprecedented achievements through empowering women, and recognizing this, developing economies have acknowledged that objectives such as poverty alleviation, fostering individual entrepreneurship, promoting child education etc. can be best pursued through the economic liberation of women.
Pakistan has strong potential for considerable development through Microfinance Institutions (MFIs), including the special impact of non-governmental organizations that work on a non-profit basis. They have emerged as pivotal instruments in not only combating poverty but also specifically in empowering women over the past few decades. Women’s empowerment translates into a progressive family and a stronger economy.
Microfinance Institutions (MFIs) present a distinctive ideological proposition, specifically tailored to aid underprivileged individuals. It operates as a protracted endeavour, facilitating the enhancement of living conditions in a sustainable manner. Particularly concerning the impact on women, the significance of its benefactors cannot be overstated, for investment in the economic livelihoods of low-income families and capacity building through financial, business, and skills training. They also assist poor households with auxiliary services like health care, education, housing, and other non-financial services which are critical for building the resilience of low-income families.
Women’s empowerment translates into a progressive family and a stronger economy.
From a financial inclusion perspective, most micro-women entrepreneurs are serviced through these entities, including 56 percent of the total outreach........