SECP Registers 2,362 New Companies In August

Mohammad Ali (@ChaudhryMAli88) Published September 13, 2022 | 02:20 AM

ISLAMABAD, (UrduPoint / Pakistan Point News - 13th Sep, 2022 ) :The Securities and Exchange Commission of Pakistan (SECP) has registered 2,362 new companies in August, raising the total number of registered companies to 176,329.

This shows an increase of 16% as compared to corresponding period last year, said a press release issued here on Monday.

Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs 4.9 billion, the press release said.

Foreign investment has been reported in 70 new companies. These companies have foreign investors from China, Czech Republic, Egypt, Germany, Hong Kong, Iran, Korea South, Malaysia, Maldives, Mongolia, Morocco, the Netherlands, Nigeria, Poland, Portugal, Singapore, Somalia, Spain, Sri Lanka, Syria, Thailand, Turkey, UAE, UK, Ukraine, the US, Vietnam and Yemen.

In August, about 59 percent companies were registered as private limited companies, while 38 percent were registered as single member companies.

Three percent were registered as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP).

About 99.8 percent companies were registered online, while 94 foreign users were registered from overseas.

The real estate development and construction sector took the lead with incorporation of 418, trading with 318, information technology with 307, services with 234, tourism with 97, food and beverages with 91, e-commerce with 84, education with 78, marketing and advertisement with 69, textile with 65, engineering with 58, power generation with 44, transport with 43, corporate agricultural farming with 39, mining and quarrying with 35, chemical with 34 and healthcare with 31.

Around 317 companies were registered in other sectors.

As a result of integration of SECP with FBR and various provincial departments, 1,796 companies were registered with FBR for generation of NTN, 78 companies with EOBI, 46 companies with PESSI/SESSI and 50 companies with Excise and Taxation department.