SECP seeks gender pay gap data

The Securities and Exchange Commission of Pakistan (SECP) has announced that despite extensive advocacy and engagement, the annual accounts of listed companies revealed very limited adherence to the gender pay gap disclosure requirements.

Through the Circular 10 in April 2024, the SECP had directed the board of directors of listed companies to disclose the gender pay gap data in their annual reports and on their websites with effect from June 30, 2024.

The directive was issued in compliance with the Prime Minister's Women Empowerment Package (PM-WEP) 2024, according to a press release issued on Monday.

Furthermore, the SECP advocated compliance through social media and by disseminating notices to listed companies for compliance through the Pakistan Stock Exchange vide notice dated November 26, 2024. In order to facilitate compliance with the disclosure requirement, a format and calculation method was also suggested along with the circular.

Additionally, the SECP said that it organised an advocacy session in collaboration with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to further emphasise the importance of gender pay gap disclosure and promote gender inclusive practices among businesses.