Islamabad, In a move to enhance corporate governance and diversity in boardrooms, the Securities and Exchange Commission of Pakistan (SECP) has issued a set of Frequently Asked Questions (FAQs) on category-wise voting for the election of directors in listed companies.

According to Securities and Exchange Commission of Pakistan, this initiative follows recent amendments to the Listed Companies (Code of Corporate Governance) 2019. The FAQs aim to address the practical challenges faced by listed companies in electing independent and female directors, promoting diversity on boards. These guidelines clarify various aspects, such as vote calculation for each category and procedures for unopposed elections in a category.

The SECP’s FAQs are designed to simplify the understanding of this new voting concept, addressing practical concerns and facilitating its implementation. This initiative is expected to foster best practices in corporate governance, ensuring diversity on boards and enhancing women’s inclusion. The FAQs are available on the SECP website for stakeholders’ convenience and reference.