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ISLAMABAD: In order to foster a beneficial and comfortable working environment for Pakistani women, the Securities and Exchange Commission of Pakistan (SECP) has directed the listed companies to formulate and implement gender diversity policies to attract and retain talented women.
The corporate sector regulator has said that Pakistan figures fairly low in the Global Gender Gap report index, prepared by the World Economic Forum, and there is a strong need to encourage women participation in the workforce, developing in-demand skills and creating opportunities for women to advance into leadership roles within the corporate sector.
The SECP also issued a circular on Monday, directing the board of directors of listed companies to oversee the implementation of gender diversity policies in their companies.
Boards have also been asked to conduct gender pay gap analysis within the organisation and formulate policies for development of skills of their women employees.
The commission has also added that promoting gender diversity have also been addressed in the Companies Act 2017, and the Listed Companies (Code of Corporate Governance) Regulations, 2019, which necessitates all listed companies to have at least one female director on their boards.
The measures for a conducive work environment include, but are not limited to, provision of day care facilities, better maternity leaves, robust anti-harassment and speak-up policies.
Boards are also required to form diverse committees overseeing the complaints pertaining to harassment etc.
Companies are expected to comply with the above provisions within six months of the date of this circular and accordingly place it on the company’s website.
Gong ceremony
In Karachi, Pakistan Stock Exchange (PSX) along with Women On Board (WOB) Initiative, Pakistan Institute of Corporate Governance (PICG) and Pakistan Business Council on Monday held a ceremony to mark International Women’s Day.
Over 100 exchanges worldwide celebrate this day to reiterate commitment to the cause of gender equality and inclusivity of women. The ceremony at PSX included gong striking to start the trading day by the prominent women invited to the event.
Published in Dawn, March 9th, 2021
