ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 2,477 new companies in September 2023, bringing the total number of companies in Pakistan to 202,892. The total capitalization (paid up capital) of newly incorporated companies stood at Rs 1.59 billion.

According to the SECP data issued on Thursday, the private limited companies accounted for 58 percent of new incorporations, followed by single-member companies at 39 percent and three percent were registered as public unlisted companies, not-for-profit associations, trade organisations and limited liability partnerships (LLP).

One foreign company has also established a place of business in Pakistan, while 92 applicants incorporated companies from overseas using eService. Almost 99.7 percent of companies were registered online. In addition, as a result of integration of SECP with FBR and various provincial departments, 2,389 companies were registered with FBR for registration of NTN, 62 companies with EOBI, 34 companies with PESSI/SESSI and 40 companies with excise and taxation department.

Information technology sector took the lead with incorporation with 347 companies, trading with 308, services with 282, real estate development & construction with 278, tourism with 123, education with 106, food & beverages with 100, ecommerce with 75, mining & quarrying with 70, textile with 60, corporate agricultural farming with 59, marketing & advertisement, and pharmaceutical with 49 each, engineering, and transport with 48 each, power generation with 47, healthcare, and cosmetics & toiletries with 37 each, chemical with 35, auto & allied 27, lodging with 24, broadcasting & telecasting, and communications with 22 each, cables & electrical goods with 21, paper & board with 17, and 186 companies were registered in other sectors.

Foreign investment has been reported in 82 new companies, having investors from Afghanistan, Australia, Bahrain, China, Denmark, France, Indonesia, Japan, Kenya, Korea South, Kuwait, Malaysia, Mongolia, Nigeria, Norway, Portugal, Romania, Russia, Spain, UAE, UK, USA and Vietnam.

Major chunk of investment was received from China with 47 companies, UK with 06, USA with 05, Korea South with 03, Japan, Nigeria and Portugal with two each and in 15 companies from other countries.

Copyright Business Recorder, 2023