In August 2023, the Securities and Exchange Commission of Pakistan (SECP) officially registered 2,847 new companies, bringing the total number of registered companies in the country to 200,629. This significant development was announced in a press release issued by the Commission on Wednesday.
The number of incorporations observed a notable increase of 20.6% when compared to the same period in the previous year, and a noteworthy 99.7% of these registrations were processed online. The collective capitalization of these newly registered companies amounted to Rs3.5 billion.
Additionally, due to the successful integration of SECP’s registration system with other governmental bodies, a total of 2,776 companies were registered with the Federal Board of Revenue (FBR) to obtain their National Tax Numbers (NTN). Furthermore, 83 companies registered with the Employees’ Old-Age Benefits Institution (EOBI), 46 with the Punjab Employees’ Social Security Institution (PESSI)/Sindh Employees’ Social Security Institution (SESSI), and 49 with the excise and taxation department.
Breaking down the sectors, the information technology sector led the way with 415 new companies, followed closely by trading with 392, real estate development and construction with 357, services with 324, tourism with 125, mining and quarrying with 119, e-commerce with 111, education with 98, food and beverages with 90, corporate agricultural farming with 83, textile with 59, marketing and advertisement with 58, engineering with 47, transport with 43, healthcare with 42, pharmaceutical with 41, chemical with 41, power generation with 38, cosmetics and toiletries with 34, auto and allied with 30, lodging with 29, broadcasting and telecasting with 27, communications with 22, paper and board with 22, cables and electrical goods with 13, and 191 companies registered in various other sectors.
Furthermore, foreign investment was reported in 69 of these new companies, originating from countries such as Afghanistan, Australia, China, Egypt, Germany, Indonesia, Jordan, Kenya, Malaysia, Norway, Russia, Saudi Arabia, Turkey, the UAE, the UK, the US, and Uzbekistan.
China played a prominent role in foreign investment, with contributions to 33 companies, followed by the US with 9, Afghanistan and the UAE with 4 each, and Australia, Egypt, Indonesia, Malaysia, Norway, and Russia with 2 each. Additionally, seven companies received investment from other countries.
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