September 12, 2024 (MLN): The Securities and Exchange Commission of Pakistan (SECP) registered 2,933 new companies during August 2024, marking a 3% increase compared to the corresponding month last year and signifying the highest number of companies incorporated in a single month.

The total number of companies registered with SECP now stands at 228,494.

Around 56% of companies incorporated during the month were registered as private limited companies, 41% as single member companies and the remaining 3% as public unlisted companies, not for profit associations, and limited liability partnerships.

To note, around 99.8% of companies were registered online.

The information technology sector took the lead with the incorporation of 431 companies, trading with 401 companies, services with 367, real estate development & construction with 269, tourism with 144, ecommerce with 133, food & beverages with 122, education with 113, marketing & advertisement with 75, mining & quarrying with 64 and healthcare with 62.

Further down the list, pharmaceuticals had 58 companies, textile and transport each had 56, power generation had 54, and engineering 53. The chemical sector saw 52 companies, corporate agricultural farming 51, and fuel & energy 49.

Cosmetics & toiletries had 45 companies, auto & allied 36, cables & electric goods 32, and communications 27. Lodging had 24 companies, paper & board 17, sports & allied 16, and arts & culture 12. Additionally, 114 companies were registered in other sectors.

Foreign investment has been reported in 63 new companies, mainly received from Afghanistan, Australia, China, Germany, Libya, Malaysia, Sudan, Sir Lanka, Switzerland, Turkey and Vietnam.

The major chunk of investment was received from China in 45 companies, Afghanistan, and Malaysia in 4 each, Germany with 3 and remaining countries with 1 each.

Copyright Mettis Link News

Posted on: 2024-09-12T15:38:41+05:00