Total number of firms registered in Pakistan would reach 176,329 by end of August 2022

• The total number of firms registered in Pakistan would reach 176,329 by the end of August 2022.
• This shows an increase of 16 percent as compared to corresponding period last year.
• The total capitalization (paid-up capital) of newly incorporated firms for the current month was Rs4.9 billion.

According to an official announcement made on Monday, the total number of firms registered in Pakistan would reach 176,329 by the end of August 2022.

The Securities and Exchange Commission of Pakistan (SECP) reported that 2,362 new companies were registered in August 2022, bringing the overall number of registered firms to 176,329.

“This shows an increase of 16 per cent as compared to corresponding period last year,” the SECP said.

The total capitalization (paid-up capital) of newly incorporated firms for the current month was Rs4.9 billion.

According to the SEC Pakistan, foreign investment has been reported in 70 new enterprises. Foreign investors in these companies come from China, the Czech Republic, Egypt, Germany, Hong Kong, Iran, Korea South, Malaysia, Maldives, Mongolia, Morocco, the Netherlands, Nigeria, Poland, Portugal, Singapore, Somlia, Spain, Sri Lanka, Thailand, Turkey, the UAE, the United Kingdom, Ukraine, the United States, Vietnam, and Yemen.

In August, around 59% of businesses were registered as private limited companies, while 38% were registered as single member firms. 3% were registered as public unlisted corporations, non-profit organisations, overseas firms, and limited liability partnerships (LLP).

Approximately 99.8 percent of companies were registered online, with 94 foreign users registering from other countries.

The real estate development and construction sector led with 418 incorporations, followed by 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, textile 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 others.

As a result of SECP’s integration with the Federal Board of Revenue (FBR) and various provincial departments, 1796 companies were registered with the FBR for the generation of National Tax Numbers (NTN), 78 with Employees Old-age Benefit Institution (EOBI), 46 with PESSI/SESSI, and 50 with excise and taxation department.

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