SECP registers 1,906 new companies in May

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies in May 2022, raising the total number of registered companies to 169,919, a statement said on Wednesday.

The latest numbers show an increase of 19 per cent as compared to the corresponding period of last year. The total capitalisation (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs3.5 billion.

Foreign investment has been reported in 51 new companies from Afghanistan, Bangladesh, Canada, China, Germany, Italy, Korea South, Norway, Poland, Romania, Singapore, Sri Lanka, Thailand, the UK and the US.

During the month, around 63 per cent companies were registered as private limited companies, while 35 per cent were registered as single member companies.

Two per cent of the companies were registered as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP), and around 99.8 per cent companies were registered online, while 195 foreign users were registered from overseas.

The real estate development and construction sector took the lead with incorporation of 334, trading with 282, information technology with 260, services with 172, tourism with 69, education with 65, e-commerce with 64, food and beverages, and textile with 56 each, and marketing and advertisement with 54 companies.

Corporate agricultural farming incorporated 43 companies, transport 42, engineering 41, pharmaceutical 40, healthcare and chemical 31 each, mining and quarrying 26, auto and allied 23, and power generation incorporated 22 companies.

Logging sector registered 21 companies, cables and electric goods 20, cosmetics and toiletries 17, communication 14, broadcasting and telecasting 13, fuel and energy 12, and 98 companies were registered in other sectors.

As a result of the SECP integration with the Federal Board of Revenue (FBR) and various provincial departments, 1,562 companies were registered with FBR for generation of NTN, 41 companies with Employees’ Old-Age Benefits Institution (EOBI), 22 companies with Punjab Employees Social Security Institution (Pessi) and Sindh Employees Social Security Institution (Sessi), and 26 companies with Excise and Taxation department, simultaneously through the SECP portal interface.