Common meaning:

Being on time.

Hidden meaning of the Equity religion: 

White value that supports the Western system of oppression.

Discussion:

The Equityists consider punctuality to be a white value that oppresses the marginalized in the West.

It is true that some cultures do not value starting events at the time they were advertised to start. This is not so much a stand against punctuality but more the idea that in some cultures everyone knows a particular event will not start on time. Even in the West you see this happening when people go to parties much later than the time the party was slated to start. 

Punctuality is not a white value but a human one. How this is implemented in different cultures varies but the value is still present in some form.

It is interesting that although the Equity believers can see racism everywhere, they have failed to perceive that ascribing punctuality to white people is racist.