Survey calls for youth-centric policies to improve business climate

PESHAWAR: A recent survey has called for youth-centric policies to promote businesses in the merged districts of the province.

The enterprise survey has been carried out by United Nations Development Programme (UNDP) Merged Areas Governance Project (MAGP) and provincial government under the title of “BIZ Assessment Survey 2020-21”, which was launched in Peshawar.

Prior to 2018, there was very little data available about merged areas, upon which effective development policies could be formulated and implemented by the government of Khyber Pakhtunkhwa.

The provincial government identified that sustainable development in the region could only be achieved if it adopted a data-driven and result-oriented approach towards effective policymaking. However, without formal governance institutions in place, the merged districts currently exist in a data oblivion.

The survey provides data that will enable the KP government in assessing the business climate in the merged areas, specifically the growth of Micro and Small Enterprises (MSEs) in the region.

As per the survey, 94% of the respondents were male business owners whereas only 6% respondents were females, which indicates that significant efforts can be made to empower women and engage them in the business sector.

An earlier survey, also conducted by MAGP, had found that 96% of women in the merged districts are engaged in livestock faming and agriculture, an opportunity which can be exploited for creating more opportunities for women.

Furthermore, the study found that the average age of business owners was 32 years old. Additionally, more than half of the business owners had at least completed matriculation or higher education whereas only 14% were uneducated. About 20% of them had returned from abroad to establish their businesses and over half had travelled to other parts of the country. Moreover, about half of the businesses were less than six years old, indicating the rise of young entrepreneurs in the post-conflict context.

The MAGP Senior Sector Specialist for Small Enterprises Ahmad Umair termed it as an “opportunity” for the government and said, “Tapping the potential of the youth in the merged areas can prove vital for the socioeconomic development in the region.”

“Through establishment of supportive infrastructure, improved targeting of government schemes and development of special financial products, we can begin working towards establishing a favorable business environment and help local businesses prosper,” said Knut Otsby, Resident Representative UNDP Pakistan.

He reiterated UNDP’s commitment in supporting the KP government in continued integration and development of the merged areas.

In his closing remarks, the Special Secretary Planning and Development Department Abid Wazir highlighted the need to partner with other stakeholders such as the State Bank, the Securities and Exchange Commission and other financial institutions.