The Securities and Exchange Commission of Pakistan (SECP) has mandated listed companies to incorporate a statement on the gender pay gap in their annual reports for the financial year ending on or after June 30, 2024. This directive, in line with the Government’s directives under the Prime Minister’s Women Empowerment Package 2024, aims to foster gender diversity within the corporate sector.
To facilitate compliance, the SECP has provided a suggested template for the gender pay gap statement, accompanied by guidance on the calculation methodology. By implementing this initiative, listed companies will be able to accurately evaluate and disclose gender pay differentials within their organizations.
The requirement to report the gender pay gap applies specifically to listed companies for the financial year ending on or after June 30, 2024. The SECP views this directive as a crucial step towards promoting gender equality and diversity in the corporate sector. Through collaborative efforts with stakeholders, the SECP aims to cultivate a more inclusive and equitable workplace environment.
This initiative underscores the commitment of the SECP towards advancing gender equality and fostering a corporate culture that values diversity and inclusivity. By shedding light on gender pay disparities, listed companies can take proactive steps towards addressing these gaps and promoting fairness and equality in the workplace.
