SECP register 2,380 new companies in November

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,380 new companies in November, 2022, an increase of 10 per cent compared with the corresponding month of last year.

The total capitalisation, paid-up-capital of the newly incorporated companies is Rs1.9 billion. With the registration of these new companies, the total number of registered companies now stands at 182,598.

Among the newly incorporated companies, around 59 per cent were registered as private limited companies, 39 per cent as single member companies and 2 per cent were public unlisted companies, not for profit associations, trade organisations and limited liability partnership (LLP). Around 99.9 per cent of companies were registered online.

In November, the SECP also registered three investment companies and micro finance companies with paid-up capital of Rs255 million.

The real estate development and construction sector took the lead with incorporation of 407 companies, followed by information technology with 347 and trading with 300 companies subsequently.

The services sector incorporated 258 companies, food and beverages 87, education 82, tourism 81, corporate agricultural farming 76, ecommerce 70, marketing and advertisement 63, engineering 62, textile 57, pharmaceutical 50, healthcare 43, mining and quarrying incorporated 38 companies.

The chemical sector incorporated 37 companies, fuel and energy 35, transport 31, power generation 30, communications 27, cosmetics and toiletries and lodging incorporated 18 companies each, broadcasting and telecasting 14, auto and allied, paper and board 13 each, cables and electrical goods 12, arts and culture 9 and 102 companies were incorporated in other sectors.

Foreign investment has been reported in 85 new companies from Afghanistan, Austria, Australia, Canada, China, Germany, Hong Kong, Jordan, Korea South, Mauritius, Nigeria, Norway, Oman, Singapore, South Africa, Spain, Tunisia, Turkey, UAE, UK and the US.

As a result of SECP’s eServices integration with the Federal Board of Revenue (FBR) and various provincial departments, 2,211 companies were registered with FBR for generation of NTN, 57 companies with the Employees’ Old-Age Benefits Institution (EOBI), 32 companies with Punjab Social Security Institution (PESSI) and Sindh Employees Social Security Institution (SESSI), and 43 companies with excise and taxation department.