Pakistan registers 3,161 new firms in May: SECP

Pakistan registered 3,161 new firms during the month of May, according to the Securities and Exchange Commission of Pakistan (SECP).

In a statement, the SECP said that the total number of registered companies had now reached 297,239.

It added that 99% were registered online, with 260 companies registered in Khyber Pakhtunkhwa, 112 in Gilgit-Baltistan, and 71 in Balochistan.

Meanwhile, 1,643 companies were registered in Punjab, 596 in Islamabad, and 479 in Sindh.

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The IT and e-commerce sector recorded the highest number of new company registrations during the month.

The Information Technology sector led all industries with 598 newly registered companies, followed by the trading sector with 503 registrations and the services sector with 404.

Meanwhile, the real estate and construction sector saw 303 new companies registered.

The tourism and transport sector recorded 206 new company registrations during May.

As per the statement, foreign investment activity also remained strong, with investors from 17 countries registering companies in Pakistan.

According to the SECP, 89 Chinese shareholders obtained directorships in these companies,

The companies established by foreign investors had a combined paid-up capital of Rs139.4 million.