SECP Pushes for Gender Pay Gap Transparency in Annual Reports

SECP has raised concerns over limited compliance

by listed companies with gender

pay gap disclosure requirements

Business Reporter

Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has raised concerns over limited compliance by listed companies with gender pay gap disclosure requirements, despite extensive advocacy efforts.

The SECP mandated the disclosure of gender pay gap data through Circular 10 of 2024, issued in April this year, requiring listed companies to include the data in their annual reports and publish it on their websites by June 30, 2024. This directive aligns with the Prime Minister’s Women Empowerment Package (PM-WEP) 2024.

To ensure compliance, the SECP leveraged social media campaigns and issued notices via the Pakistan Stock Exchange (PSX), including notice PSX/N-1140 on November 26, 2024. Additionally, a standardized format and calculation method were provided to simplify the reporting process.

The SECP, in collaboration with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), hosted an advocacy session highlighting the importance of gender pay gap disclosures and encouraging gender-inclusive practices within businesses.

Despite these efforts, adherence remains minimal. The SECP has reiterated its call for listed companies to comply with these requirements in their annual reports and websites. Non-compliance may result in enforcement actions against defaulters.

The SECP emphasized its commitment to promoting transparency, gender equality, and the objectives of PM-WEP 2024 to create a more inclusive business environment in Pakistan.

Tags: SECP, gender pay gap, PM-WEP 2024, listed companies, gender equality, Pakistan Stock Exchange, FPCCI, corporate transparency, women empowerment in Pakistan, business inclusivity.