SECP registers 355 new IT companies in October 2022

SECP registers 355 new IT companies in October 2022

The Securities and Exchange Commission of Pakistan (SECP) has registered 355 new information technology (IT) companies besides incorporating a total of 2,361 new companies during October, showing an increase of 17 per cent as compared to the registration of last month.

The total number of registered companies with the SECP was recorded at 180,996, whereas foreign investment has been reported in 77 new companies, said a press release issued by SECP here Friday.

These companies have foreign investors from Austria, Australia, Afghanistan, Bangladesh, China, Denmark, Iran, Italy, Jordan, Korea South, Lebanon, Lithuania, Norway, Saudi Arabia, Singapore, Yemen, Tunisia, Turkey, the UAE, the UK, and the US.

Total capitalization (paid-up capital) with regard to newly incorporated companies for the current month stood at Rs3 billion.

Read This

SECP launches WeChat service to facilitate Chinese investors

SECP starts ‘Online Only Brokers’ to promote digitalisation

In October, about 60 per cent of companies were registered as private limited companies, while 37 per cent were registered as single-member companies.

About 03 per cent were registered as public unlisted companies, not-for-profit associations, foreign companies and limited liability partnerships (LLP). Nearly 99.8 per cent of companies were registered online.

The real estate development and construction sector took the lead with the incorporation of 432, information technology with 355, trading 279, services 234, food & beverages 93, e-commerce 92, tourism with 84 and education 83.

Meanwhile, 72 companies were registered in corporate agricultural farming, 56 in marketing & advertisement, 45 in engineering, and power generation 44, and 814 companies were registered in other sectors.

As a result of the integration of SECP with the Federal Board of Revenue and various provincial departments, 1,969 companies were registered with FBR for the generation of NTN, 81 companies with EOBI, 47 companies with PESSI/SESSI and 57 companies with excise and taxation department.

Related posts