November 11, 2022 (MLN): The Securities and Exchange Commission of Pakistan (SECP) registered 2,361 new companies in October 2022, raising the total number of registered companies to 180,996, a press release showed.

This shows an increase of 17% as compared to corresponding period last month. Total paid-up-capital with regard to newly incorporated companies for the current month stood at Rs3 billion.

Furthermore, 60% companies were registered as private limited companies, while 37% were registered as single member companies. About three percent were registered as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP). Nearly 99.8% companies were registered online.

The real estate development & construction sector took the lead with incorporation of 432, information technology with 355, trading with 279, services with 234, food & beverages with 93, ecommerce with 92, tourism with 84, education with 83, corporate agricultural farming with 72, marketing & advertisement with 56, engineering with 45, power generation with 44, and 814 companies were registered in other sectors.

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

Moreover, foreign investment has been reported in 77 new companies. These companies have foreign investors from Afghanistan, Austria, Australia, Bangladesh, China, Denmark, Iran, Italy, Jordan, Korea South, Lebanon, Lithuania, Norway, Saudi Arabia, Singapore, Yemen, Tunisia, Turkey, the UAE, the UK, and the US.

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Posted on: 2022-11-11T19:38:32+05:00