SECP registers 2,463 new companies in October, expanding total to 205,456

November 13, 2023 (MLN): The Securities and Exchange Commission of Pakistan (SECP) registered 2,463 new companies in October 2023, raising the total number of registered companies to 205,456, as revealed in a press release issued by the regulatory body.

The cumulative capitalization (paid-up capital) of newly incorporated companies is PKR 4.24 billion.

About 56% of companies were registered as private limited companies, while 41% were registered as single-member companies.

The remaining 3% were registered as public unlisted companies, not-for-profit associations, trade organizations, limited liability partnerships (LLPs), and foreign companies.

Almost 99.6% of companies were registered online, and three foreign companies have also established places of business in Pakistan.

The information technology sector took the lead with incorporation with 326 companies, trading with 322, services with 298, real estate development & construction with 290, education with 107, tourism with 100, food & beverages with 90, ecommerce and mining & quarrying with 67 each and corporate agricultural farming with 63.

Marketing & advertisement sector registered 61 companies, textile with 55, pharmaceutical with 54, transport with 49, engineering and chemical with  45 each, power generation with 44, healthcare with 32, cosmetics & toiletries with 31, broadcasting & telecasting with 30, lodging  with 28.

The remaining companies were registered in the communications sector with 24, cables & electrical goods, and paper & board with 16 each. Additionally, 203 companies were registered in other sectors.

As a result of integration with FBR and other provincial departments, the SECP eService was used by 2,281 companies for registration with FBR.

While 61 companies got registration with the Employees Old Age Benefit Institute (EOBI); 27 companies with PESSI/SESSI; and 34 companies with the excise and taxation departments.

Foreign investment has been reported in 75 new companies, with investors hailing from Afghanistan, Algeria, Australia, China, Denmark, El Salvador, France, Germany, Indonesia, South Korea, Libya, Malaysia, the Netherlands, Nigeria, Norway, Spain, Syria, Thailand, Turkey, the UAE, the UK, and the US.

A significant portion of this investment comes from China, involving 40 companies, followed by Afghanistan with 5, the UK with 4, and Germany and the UAE with 3 each. The Netherlands, Norway, and the US each contributed to 2, while 14 companies originated from other countries.

Copyright Mettis Link News