SECP registers 2,362 new companies in August 2022

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,362 new companies in August 2022, raising the total number of registered companies to 176,329, a statement said on Monday.

This shows an increase of 16 per cent, compared with the corresponding period of the last year. The total capitalisation (paid-up capital) with regard to the newly-incorporated companies for the current month stood at Rs4.9 billion, it added.

Foreign investment has been reported in 70 new companies. These companies have foreign investors from China, Czech Republic, Egypt, Germany, Hong Kong, Iran, South Korea, Malaysia, Maldives, Mongolia, Morocco, The Netherlands, Nigeria, Poland, Portugal, Singapore, Somalia, Spain, Sri Lanka, Syria, Thailand, Turkey, the UAE, the UK, Ukraine, the US, Vietnam and Yemen.

In August, around 59 per cent companies were registered as private limited companies, while 38 per cent were registered as a single member companies. Three per cent were registered as public unlisted companies, not for profit associations, foreign companies and limited liability partnership. Around 99.8 per cent companies were registered online, while 94 foreign users were registered from overseas.

The real estate development and construction sector took the lead with the incorporation of 418, trading with 318, information technology with 307, services with 234, tourism with 97, food and beverages with 91, ecommerce with 84, education with 78, marketing and advertisement with 69, textiles with 65, engineering with 58, power generation with 44, transport with 43, corporate agricultural farming with 39, mining and quarrying with 35, chemical with 34, healthcare with 31 and 317 companies were registered in other sectors.

As a result of integration of the SECP with the Federal Board of Revenue (FBR) and various provincial departments, 1,796 companies were registered with the FBR for generation of national tax number (NTN), 78 companies with the Employees Old-age Benefit Institution (EOBI), 46 companies with the Punjab Employees Social Security Institution (PESSI) and the Sindh Employees Social Security Institution (SESSI) and 50 companies with the Excise and Taxation Department.