SECP registers 2,220 new companies in July

The Securities and Exchange Commission of Pakistan (SECP) registered 2,220 new companies in July 2023, a 25% increase from the previous year, a press release said on Friday.

The total capitalisation for the companies stood at Rs3.3 billion.

The total number of registered companies in the country has now risen to 197,828.

About 57% of Pakistan’s companies were private limited companies, 41% single-member companies, and 2% not-for-profit associations, trade organisations, and limited liability partnerships.

SECP registers 27,746 new companies in FY 2022-23

Around 99.7% were registered online, and three foreign companies established businesses in Pakistan. Up to 86 foreign applicants registered from overseas.

The information technology sector took the lead with incorporation of 316 companies, trading with 309, services 260, real estate development abd construction 252, food and beverages 96, tourism 91, education 90, corporate agricultural farming 70, ecommerce 64, textile 57, marketing and advertisement 48, and transport with 45.

Similarly, engineering sector registered 42 new companies, followed by healthcare with 41, pharmaceutical 36, mining and quarrying 35, power generation 30, lodging 28, communications 26, chemical 24, cosmetics and toiletries 21, auto & allied and broadcasting & telecasting with 20 each, paper and board with 19, cables and electrical goods 12, and 168 companies were registered in other sectors.

SECP integration with the Federal Board of Revenue (FBR) and provincial departments led to 2,123 NTN registrations, 69 EOBI, 40 PESSI/SESSI, and 51 excise and taxation departments, registering 2123 companies.

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Foreign investment was reported in 42 new companies, having foreign investors from Afghanistan, Canada, China, Djibouti, Germany, Hong Kong, Iran, Italy, Kuwait, Norway, Saudi Arabia, Singapore, Spain, Sweden, Turkey, UAE, UK, US and Vietnam.

Major chunk of investment was received from China with 16 companies, Singapore and UAE with 3 each, Afghanistan, Iran, US and Vietnam with 02 each, and in 12 companies from other countries.

SECP’s said its WhatsApp facility responded to 1,305 queries with a 96% satisfaction rate in the month.