The Securities and Exchange Commission of Pakistan (SECP) registered 2,220 new companies in July 2023, a 25 percent increase from the previous year.
The total capitalization for these companies was Rs. 3.3 billion. The total number of registered companies in the country rose to 197,828.
About 57 percent of Pakistan’s companies are private limited companies, 41 percent are single-member companies, and 2 percent are not-for-profit associations, trade organizations, and LLPs. 99.7 percent are registered online, and three foreign companies have established business in Pakistan. 86 foreign applicants have registered from overseas.
The information technology sector took the lead with the incorporation of 316 companies, trading with 309, services with 260, real estate development and construction with 252, food and beverages with 96, tourism with 91, education with 90, corporate agricultural farming with 70, ecommerce with 64, textile with 57, marketing and advertisement with 48, transport with 45, engineering with 42, healthcare with 41, pharmaceutical 36, mining and quarrying with 35, power generation with 30, lodging with 28, communications with 26, chemical with 24, cosmetics and toiletries 21, auto and allied and broadcasting and telecasting with 20 each, paper and board with 19, cables and electrical goods with 12, and 168 companies were registered in other sectors.
SECP integration with FBR and provincial departments led to 2,123 NTN registrations, 69 EOBI, 40 PESSI/SESSI, and 51 excise and taxation department registrations.
Foreign investment has been 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. The major chunk of investment was received from China with 16 companies, Singapore and UAE with 3 each, Afghanistan, Iran, US, and Vietnam with 2 each, and in 12 companies from other countries.
SECP’s WhatsApp facility handles name availability and incorporation queries, with 1,305 responses and a 96 percent satisfaction rate in the month.
Source: Pro Pakistani