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SECP registers 2,361 new companies on October 22 – Mettis Global Link

November 11, 2022 (MLN): The Securities and Exchange Commission of Pakistan (SECP) registered 2,361 new companies in October 2022, bringing the total number of registered companies to 180,996, according to a press release.

This shows an increase of 17% compared to the corresponding period last month. The total paid up capital of the newly incorporated companies for the current month stood at Rs 3 billion.

Furthermore, 60% of companies were registered as limited liability companies, while 37% were registered as sole proprietorships. About three percent were registered as unlisted public companies, non-profit associations, foreign companies and limited liability companies (LLPs). Nearly 99.8% of businesses were registered online.

The real estate development and construction sector took the lead with the incorporation of 432, information technology with 355, trade with 279, services with 234, food and beverage with 93, trade electronics with 92, tourism with 84, education with 83, commercial agriculture with 72, marketing and advertising with 56, engineering with 45, power generation with 44, and 814 companies were registered in other sectors.

Following the integration of the SECP with the FBR and various provincial departments, 1,969 companies were registered with the FBR for the generation of NTN, 81 companies with the EOBI, 47 companies with the PESSI/SESSI and 57 businesses with the excise and taxation department.

In addition, foreign investment was reported in 77 new companies. These companies have foreign investors from Afghanistan, Austria, Australia, Bangladesh, China, Denmark, Iran, Italy, Jordan, South Korea, Lebanon, Lithuania, Norway, Saudi Arabia, Singapore, Yemen, Tunisia, Turkey, United Arab Emirates, United Kingdom, and the United States.

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Published on:2022-11-11T19:38:32+05:00