ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved around 41,000 new companies’ names during 2021-22 under the digital reforms.
According to a tweet of the SECP on Thursday, to increase corporatization and promote ease of doing business (EoDB), SECP has approved around 41,000 company names during FY2021-22. As a result of digital reforms introduced by the SECP, around 99.9 percent applications have been filed and disposed of digitally, the SECP added.
During 2021-22, the SECP has registered 26,483 companies and approved names of 41,000 and 99.9 percent applications have been filed and disposed of digitally.
The sectoral distribution of new companies registered during 2021-22 revealed that 4,791 companies have been registered within the category of real estate development and construction sector.
Within the category of information technology (IT), 3,760 companies have been registered.
A total 3,534 companies have been registered with the category of trading companies during 2021-22.
Within the services sector, a total of 2,408 companies have been registered during this period.
Around 1,038 e-commerce companies have been registered during the period under review, the data added.
A total of 962 companies have been registered with the area of education.
Copyright Business Recorder, 2022
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