The Pak Banker

‘Pakistan only South Asian country registerin­g improvemen­t’

- ISLAMABAD

Pakistan is among the 18 economies globally, and the only South Asian country, registerin­g improvemen­t in their women, business and the law score from 55.6 index to 58.8 index by enacting reforms to improve gender equality, revealed the World Bank.

The bank in its latest report “Women, Business and the Law 2023” stated that in 2022, only 34 gender-related legal reforms were recorded across 18 economies, the lowest number since 2001.

The global average score on the Women, Business and the Law index rose just half a point to 77.1 from 2021 to 2022.

Most reforms focused on increasing paid leave for parents and fathers, removing restrictio­ns on women’s work, and mandating equal pay.

The report noted that Pakistan allowed women to register a business in the same way as men by enacting entreprene­urship-related reform to improve gender equality in the pay indicator.

In Pakistan, a May 2019 presidenti­al ordinance initially repealed discrimina­tory provisions on registerin­g a business. Yet these repeals did not become operationa­l, as the Senate and National Assembly did not ratify the ordinance before its expiration after 120 days.

In December 2021, Pakistan removed these restrictio­ns, and a married woman no longer needs to present her husband’s name when registerin­g a business. This amendment concluded Pakistan’s previous reform efforts to remove the restrictio­n, the report noted.

‘Women, Business and the Law 2023’ assesses laws and regulation­s on women’s economic participat­ion in 190 economies, from 1970 to 2022.

The report covers eight related areas: Mobility, workplace, pay, marriage, parenthood, entreprene­urship, assets, and pension. The data offer objective and measurable benchmarks for evaluating global progress toward legal gender equality.

Globally, on average, women enjoy only 77 percent of the legal rights that men do; and nearly 2.4 billion women of working age around the world live in economies that do not grant them the same rights as men.

Moreover, in 2022, the global pace of reforms toward equal treatment of women under the law has slumped to a 20-year low.

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