ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,760 new companies in April 2023, bringing the total number of registered companies to 191,924. The total paid-up capital (capitalization) of the companies incorporated in April was Rs 2.9 billion.
Approximately 57 percent of businesses were registered as private limited companies, 41 percent as single-member businesses, and 2 percent companies were registered as limited liability partnerships, not-for-profit organizations, and unlisted public companies (LLP). Nearly 99.8% of businesses were registered online. The new registrations also included 70 foreign applicants.
Foreign investment has been reported in 67 new companies, having foreign investors from Afghanistan, Canada, China, Cyprus, Denmark, Egypt, Germany, Hong Kong, Iran, Japan, Jordan South Korea, the Netherlands, Singapore, Slovakia Republic, South Africa, Spain, Sri Lanka, Switzerland, Syria, Thailand, Turkey, UAE, UK and US. Major chunk of investment was received from China with 36 companies, Germany, and South Korea with 04 each, Hong Kong, Turkey, South Africa, UK and US with 2 each, and in 13 companies from other countries.
The information technology sector took the lead with incorporation with 267 Companies , real estate development & construction with 228, trading with 222, services with 194, food and beverages with 93, ecommerce with 68, education with 62, tourism with 53, textile with 52, marketing & advertisement, and corporate agricultural farming with 42 each, engineering with 36, healthcare with 33, chemical with 31, pharmaceutical, and power generation with 30 each, mining & quarrying with 27, cosmetics and toiletries with 24, auto and allied with 22, broadcasting and telecasting with 20, communications, and fuel and energy with 19 each, transport with 17, lodging with 16, cables and electrical goods with 15, paper and board with 11, and 87 companies were registered in other sectors.
As a result of the integration of SECP’s E-services with FBR and various provincial departments, 1,700 companies were registered with FBR for the generation of NTN, 73 companies with EOBI, 40 companies with PESSI/SESSI, and 55 companies with the excise and taxation department.
The SECP also has a dedicated WhatsApp facility for instant resolution of queries pertaining to name availability and incorporation processes, and during this month, around 1,020 queries were responded to with a 94% satisfaction rate.
Copyright Business Recorder, 2023
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