ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued a directive for listed companies to include a statement on the gender pay gap in their annual reports.Â
The directive aligns with the Government’s instructions under the Prime Minister’s Women Empowerment Package 2024, aimed at promoting gender diversity within the corporate sector.
To facilitate compliance, the SECP has also provided a suggestive template for the gender pay gap statement, along with guidance on its calculation methodology.Â
This initiative will assist listed companies in accurately assessing and reporting gender pay differentials within their organizations. The requirement for reporting the gender gap applies to listed companies for the financial year ending on or after June 30, 2024.Â
The gender wage gap in Pakistan is estimated to be around 34%, which is much higher than the global average (23%). The statistic highlights an alarming inequality between workers of the same labour force. The new measure, announced by SECP, is aimed at reducing this number and making compensations for women more equitable.
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