PAKISTAN FAST GROWTH 25 WINNER

Ethical Trading Policy

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1. POLICY STATEMENT

SPEL recognizes that our commercial and corporate activities have an impact on our stakeholders – those individuals and groups who are affected directly or indirectly by our activities and achievements. As a socially responsible company, our stakeholders have a right to:
a. Expect that SPEL products are manufactured under working conditions that are hygienic and safe.

b. Expect that everyone involved in the production of SPEL products, from direct suppliers and subcontractors, to all those involved in the supply chain, are treated with full care, consideration and respect.

c. Expect that SPEL acts in an ethical manner above and beyond the scope of legal requirements, which in any case are mandatory.

This policy sets out SPEL’s commitment to its stakeholders and the measures we are taking to ensure that we act in an ethical and proper manner.

2. SPEL COMMITMENT TO ITS STAKEHOLDERS

• Shareholders
SPEL recognizes that its reputation of being an ethical and socially responsible company is the key to profitability and long term sustainability. The company and its employees strive to be on the forefront of ethical business and social responsibility.

Employees
SPEL is committed to ensuring that our personnel policy practices, and the enforcement of corporate regulations, ensure the protection of the rights of all stakeholders. In many areas, we aim to operate on or above minimum standards required by law to ensure that our employees are safe, rewarded and valued. Policies will be formulated to ensure job enrichment. Employees will be treated with respect and will be given opportunity to be trained and groomed as worthy members of SPEL family.

Customers
SPEL is committed to demonstrate its ethical and socially responsible credentials to its customers. This would be achieved through the publication of our vision, mission, practices and accreditations on our website or by other means of communication.

Suppliers
SPEL is committed to working with suppliers who exhibit social standards in the supply chain, and we encourage our suppliers to operate to the same ethical standards as we do so ourselves.

3. SPEL ETHICAL CODE OF PRACTICE

I. Employment is freely chosen
There is no forced or bonded labour. Workers are not required to lodge or “deposit” their original identity papers with us (verified copies would be needed by the company for record) and are free to leave employment after reasonable notice as per company policy.

II. Freedom to express opinions and suggestions is respected
Workers, without distinction, have the right to express their opinions and suggestions through different forums available. Keeping the decorum, in view they could become part of different committees i.e. Health and Safety, 5 S, Trainings etc and participate in different decision making processes.

III. Working conditions be safe and hygienic
A safe and hygienic working environment shall be provided, bearing in mind the prevailing compulsions of the industry and any specific hazards. Adequate steps shall be taken to prevent accidents and injury to health arising out of, associated with, or occurring in the course of work, by minimizing, so far as is reasonably practicable, the sources of hazards inherent in the processes and working environment. Workers shall receive regular and recorded health and safety training, and such training shall be repeated for new or reassigned workers.

IV. Child Protection
SPEL does not engage in, or support the use of child labour.

V. Fair Employment Terms
Wages and benefits paid for a standard working week or month should meet, at a minimum, national legal standards or industry benchmarked standards. All workers shall be provided with written and understandable Information about their employment conditions before they enter employment and about the particulars of their wages for the pay periods concerned. Deductions from wages as a disciplinary measure shall not be permitted except with the expressed permission of the worker concerned and as per law relating to legal deductions. All disciplinary actions should be recorded.

VI. Working Hours are not excessive
Working hours shall comply with national laws and benchmarked industry standards. Staff shall not be forced to work beyond normal working hours except those who are willing and wish to work beyond those hours.

VII. No discrimination is practiced
There would be no discrimination in hiring, compensation, access to training, promotion, termination or retirement based on race, caste, creed, gender or marital status. Option for personal and career development will be equally available to all employees

VIII. Legal Compliance
SPEL only employ workers with a legal right to work. No corruption, black mailing or bribery would be permitted.

IX. No harsh or inhumane treatment is allowed
Physical abuse or threat of physical abuse, sexual or other harassment and verbal abuse or other forms of intimidation are prohibited.