The Securities and Exchange Commission of Pakistan (SECP) has issued a directive for listed companies to include a statement on the gender pay gap in their annual reports, for financial year ending on or after June 30, 2024.
The directive aligns with the Government’s instructions under the Prime Minister’s Women Empowerment Package 2024, aimed at promoting gender diversity within the corporate sector.
The SECP issued circular number 10 of 2024 here on Thursday.
To facilitate compliance, the SECP has provided a suggestive template for the gender pay gap statement, along with guidance on its calculation methodology.
This initiative will assist listed companies in accurately assessing and reporting gender pay differentials within their organizations. The requirement for reporting the gender gap applies to listed companies for the financial year ending on or after June 30, 2024.
The SECP remains committed to promoting gender equality and diversity in the corporate sector and views this directive as a significant step towards achieving this objective. Through collaborative efforts with stakeholders, we aim to create a more inclusive and equitable workplace environment.
