SECP Business Centre records 24pc growth in company incorporation

ISLAMABAD: The SECP’s newly established Business Centre recorded 24% growth in incorporation of new companies, by registering 837 new companies in January 2021. It is the highest ever incorporations by a single Company Registration Office (CRO). The SECP Business Center in Islamabad is a well-equipped office to promptly process applications for incorporation of companies. It has improved the overall user experience with a perspective of providing ease of doing business in Pakistan.

During the month of January, the SECP registered 2,201 new companies, raising the total number of registered companies to 134,797. Out of new incorporations, 98% companies were registered online and around 30% applicant’s completed incorporation process in same day. Around 69% companies were registered as private limited companies, while around 28% were registered as single member companies, 3% were registered as public unlisted companies, not for profit associations, foreign companies and Limited Liability Partnership (LLP).

Top 5 sectors in the month of January 2021 include the trading sector with 314 incorporations, information technology with 269, construction 227, services and allied 188, and E-commerce with 79, while 1124 companies were registered in other sectors. Foreign investment has been reported in 44 new companies, from China, Malaysia, Sweden, South Africa, Norway, Netherlands, Turkey, the UK and the US. The highest numbers of companies were registered at Business Center Islamabad, followed by 623 and 319 companies registered in CRO Lahore and Karachi respectively. The CROs in Peshawar, Multan, Faisalabad, Gilgit-Baltistan, Quetta, and Sukkur registered, 156, 122, 56, 53, 22 and 13 companies respectively. —PR

Copyright Business Recorder, 2021