ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Monday warned all companies of regulatory action if their employees and families are not vaccinated against Covid-19 by Aug 31.

“The SECP will consider regulatory measures against companies that fail to effectively adhere to the directions and policies of the government for combating the pandemic,” the corporate sector regulator said in a circular .All companies are required to submit details of vaccination of their employees and their families to the SECP by July 26, the circular said.

The initial compliance report to be filed on the website of SECP should contain the name of the company, total number of employees, staff vaccinated, number of family members eligible for vaccination and those vaccinated.

Warns of regulatory action if order not complied with

The circular was issued to all public listed companies, public unlisted and private companies, associations, trade bodies, chambers, non-bank microfinance companies, modarabas, insurance companies, NBFIs, brokers, intermediaries etc.

Around 146,000 companies are registered with the SECP.

“In case the employees and their families have not yet started and participated in the vaccination drive, the management of the companies are advised to encourage them for vaccination and provide a compliance report by August 31,” the SECP circular added.

It advised the companies to encourage their business suppliers, vendors and customers to get themselves and their families vaccinated, at the earliest.

“It is reiterated that vaccination is seen as the only viable way to counter this global health crisis, as those who have not received the vaccine are seven times more likely to contract the virus than those who have been inoculated,” the commission said.

The circular also suggested that companies were also encouraged to spend their Corporate Social Responsibility Funds for inoculation of employees and their families.

Meanwhile, a senior official of the commission said that the data collected will be shared with the National Command and Operation Centre (NCOC) and if needed, relevant agencies in coordination with the SECP will counter check the selected data through the SMS system of NCOC and Nadra.

Published in Dawn, July 20th, 2021