SECP incorporates 2380 new companies

SECP incorporates 2380 new companies

The Securities and Exchange Commission of Pakistan (SECP) registered 2,380 new companies in November 2022, indicating an increase of 10% as compared to the corresponding period last year.

The total capitalization (paid-up capital) of the newly incorporated companies is Rs 1.9 billion. The total number of registered companies now stands at 182,598.

Among the newly incorporated companies, about 59 percent were registered as private limited companies, 39 percent as single member companies, and 2 percent were public unlisted companies, not-for-profit associations, trade organizations, and limited liability partnerships (LLP), said a press release issued by the SECP.

About 99.9 percent of companies were registered online. In November, the SECP also registered three investment companies/microfinance companies with paid-up capital of Rs 255 million.

In November, the real estate development and construction sector took the lead with the incorporation of 407 companies followed by information technology with 347 and trading with 300 companies.

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The services sector incorporated 258 new companies, food, and beverages 87, education 82, tourism 81, corporate agricultural farming 76, e-commerce 70, marketing and advertisement 63, engineering 62, textile 57, pharmaceutical 50, healthcare 43, mining and quarrying 38, and chemical sector 37.

Similarly, the fuel and energy sectors registered 35 companies, transport 31, power generation 30, communications 27, cosmetics and toiletries and lodging 18 each, broadcasting and telecasting 14, auto, alloys paper & board 13 each, cables and electrical goods 12,  arts and culture 9, and 102 companies in other sectors.

Foreign investment has been reported in 85 new companies from Afghanistan, Austria, Australia, Canada, China, Germany, Hongkong, Jordan, Korea South, Mauritius, Nigeria, Norway, Oman, Singapore, South Africa, Spain, Tunisia, Turkey, UAE, UK, and the US.

As a result of SECP’s eServices integration with FBR and various provincial departments, 2,211 companies were registered with FBR for the generation of NTN, 57 companies with EOBI, 32 companies with PESSI/SESSI, and 43 companies with the excise and taxation department.

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