SECP for action against companies with unvaccinated employees

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has advised over 146,000 companies registered with it, to ensure that their employees, including their families, get vaccinated as soon as possible, warning of regulatory actions if directions are not followed.

“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 issued here on Monday. 

As per the circular, all companies are required to submit vaccination details of their employees and their families by July 26. 

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

The circular has been 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. 

“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, 2021.” the SECP circular added. 

The companies were informed that in order to speed up the vaccination drive, the government of Pakistan has made vaccination mandatory for office workers and advised to encourage their business suppliers, vendors, and customers to get themselves and their families vaccinated at the earliest.

The circular stressed 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 inoculated.

Further, tt also suggested that companies should spend their corporate social responsibility funds for vaccinations.

Meanwhile a senior official of the commission added that the data collected will be shared with the NCOC and if needed relevant agencies in coordination with SECP will conduct a counter check of selected data through the NCOC and NADRA’s SMS system.