SECP Launches Women EquiSmart Policy 2025–2028

In a major step toward addressing gender inequality in Pakistan’s economic landscape, the Securities and Exchange Commission of Pakistan (SECP) on Tuesday unveiled its draft Women EquiSmart Policy 2025–2028. The comprehensive framework aims to transform the country’s corporate, capital markets, insurance, and non-banking financial sectors by enhancing women’s participation and inclusion at every level.

Published for public consultation on SECP’s website, the policy marks a shift from fragmented, voluntary diversity efforts to a cohesive and enforceable regulatory strategy. This is the first time the SECP has proposed a structured gender inclusion plan across its regulated entities — a move that aligns with both national development priorities and international gender equality frameworks.

Six Pillars for Structural Change

The Women EquiSmart Policy is built on six core pillars designed to systematically address gender imbalances:

1. Women’s Leadership on Boards
   – Strengthening mandatory representation of women in boardrooms and top executive roles
   – Supporting leadership training and mentorship programs for women in finance and corporate roles

2. Gender-Disaggregated Reporting
   – Introducing new requirements for companies to report gender-based data
   – Promoting transparency on recruitment, retention, pay gaps, and board composition

3. Women’s Entrepreneurship
   – Expanding access to finance for women-led businesses
   – Working with banks and capital markets to reduce barriers for female entrepreneurs

4. Gender-Smart Financial Products
   – Encouraging the development of tailored financial products that meet women’s needs
   – Promoting inclusive product design in insurance, investments, and lending

5. Inclusive Workplace Practices
   – Recommending gender-friendly HR policies including flexible work, safe environments, and maternity benefits
   – Promoting the adoption of inclusive recruitment, retention, and promotion strategies

6. Institutional Capacity Building
   – Investing in gender training for SECP staff and regulated entities
   – Partnering with civil society and academia to create accountability mechanisms and research

From Voluntary to Enforceable

Pakistan has previously taken steps to promote gender diversity, such as corporate governance codes encouraging women on boards. However, these efforts have largely remained voluntary, inconsistently applied, and difficult to monitor.

SECP’s proposed policy introduces regulatory actions with clear timelines and roles for both public and private sector stakeholders, ensuring greater accountability and progress measurement.

Why This Policy Matters

The draft framework arrives at a crucial moment for Pakistan’s economic development. According to the World Economic Forum’s Global Gender Gap Report, Pakistan ranks among the lowest in the world in terms of economic participation and opportunity for women. Structural barriers such as limited access to finance, low representation in leadership, and exclusion from high-growth sectors continue to hinder women’s progress.

By embedding gender inclusion into financial and corporate regulation, the SECP aims to shift from symbolic gestures to systemic transformation.

Way Forward

The SECP has invited feedback from industry stakeholders, gender experts, and the public before finalizing the policy. Once adopted, it will become a guiding document for businesses, regulators, and financial institutions — ensuring that gender equity is not just encouraged, but built into the very foundations of economic governance.