ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 2,095 new companies in December 2023, bringing the total number to 209,604. The total capitalization for these newly incorporated companies is Rs2.6 billion.
Around 57% of Pakistani companies are private limited companies, with 41% being single member companies. The remaining 2% are public unlisted companies, not for profit associations, limited liability partnerships, and foreign companies. Three foreign companies have established businesses in Pakistan, with 99 foreign applicants registered through eServices.
The trading sector took the lead with incorporation of 288 companies, Information Technology with 286, services with 238, real estate development & construction with 220, education with 107, tourism with 98, food & beverages with 80, ecommerce with 66, marketing & advertisement with 51, power generation with 47, textile with 44, corporate agricultural farming with 43, mining & quarrying with 41, healthcare with 40, chemical with 39, transport with 38, pharmaceutical with 37, engineering with 35, fuel and energy with 34, cosmetics & toiletries with 32, lodging with 24, communication with 19, paper & board with 14, broadcasting & telecasting with 13, cables & electrical goods with 10 and 151 companies were registered in other sectors.
The integration of SECP with FBR and provincial departments led to the registration of 2,036 companies for NTN registration, 56 with EOBI, 27 with PESSI/SESSI, and 31 with excise and taxation departments.
Foreign investment in 62 new companies has been reported, with investors from Afghanistan, Australia, China, Denmark, El Salvador, Germany, Italy, Jordan, Mozambique, Nigeria, Oman, Russia, Saudi Arabia, Tanzania, Turkey, UAE, UK, and the US. Major chunk of investment is received from China, followed by Afghanistan, US, Nigeria, Denmark, Germany, Mozambique, Saudi Arabia, and UAE.
Copyright Business Recorder, 2024
Comments
Comments are closed for this article.