Together Against COVID-19: SECP asks companies to facilitate vaccination of employees and their families

ISLAMABAD: To support the national campaign to prevent COVID-19, the Securities and Exchange Commission of Pakistan (SECP) has advised over 146,000 companies registered with it, to ensure that their employees/workers, including their families, get vaccinated as soon as possible.

In this regard, SECP has issued a Circular 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.  The companies are also advised to encourage their business suppliers, vendors and customers to get themselves and their families vaccinated, at the earliest.

The companies were informed that in order to speed up the vaccination drive the government of Pakistan has made vaccination mandatory for office workers. 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 inoculated. The Companies are also encouraged to spend their Corporate Social Responsibility Funds for vaccination of their employees and their families.

As per the circular, all companies are required to submit the details of vaccination of their employees and their families to the SECP by July 26, 2021. 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 will consider regulatory measures against companies that fail to effectively adhere to the GoP’s directions and policies for combating the pandemic.

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