The Securities and Exchange Commission of Pakistan (SECP) registered 1,691 new companies in the first month of FY 2023.
After July’s incorporation, the total number of companies registered with the SECP now stands at 173,897. The total capitalization (paid-up-capital), with regards to the newly incorporated companies for July, stands at Rs. 2.5 billion.
Foreign investment has been reported in 44 new companies, from Afghanistan, China, Dominican Republic, Egypt, Germany, Kazakhstan Madagascar, the Netherlands, Saudi Arabia, Spain, Tanzania, Thailand, Turkey, the UK, and the US.
About 59 percent of the companies were registered as private limited companies, while 38 percent were registered as single member companies. Three percent were registered as public unlisted companies, not-for-profit associations, foreign companies, and limited liability partnerships (LLP).
About 99.8 percent of companies were registered online and 144 foreign users were registered from overseas.
The Real Estate Development & Construction sector took the lead with the incorporation of 312, information technology with 245, trading with 208, services with 170, e-commerce with 66, education with 65, tourism with 60, food and beverages with 57, textile with 48, engineering with 43, marketing and advertisement with 41, corporate agricultural farming with 38, power generation with 37, auto and allied with 31, pharmaceutical with 30, healthcare, and mining and quarrying with 26 each, chemical with 25, transport with 20, logging with 16, broadcasting and telecasting, and paper and board with 13 each, cables and electric goods, and fuel and energy with 12 each, and 77 companies were registered in other sectors.
As a result of the integration of the SECP with the Federal Board of Revenue (FBR) and various provincial departments, 1,625 companies were registered with FBR for the generation of National Tax Number (NTN), 45 companies with the Employees’ Old-Age Benefits (EOBI), 47 companies with the Punjab Employees Social Security Institution and the Sindh Employees Social Security Institution (PESSI/SESSI), and 36 companies with the Excise and Taxation department.