SECP registers 2,539 firms in May

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,539 new companies in May 2023, bringing the total number of registered companies to 194,466, a statement said.

The total paid-up capital (capitalisation) of the companies incorporated in February was Rs2.7 billion.

Approximately 57 percent of businesses were registered as private limited companies, 40 percent as single-member businesses, and 3 percent as limited liability partnerships, not-for-profit organisations, and unlisted public companies (LLP). Nearly 99.7 percent of businesses registered online. The new registrations include 65 foreign applicants.

The information technology sector took the lead with the incorporation of with 407 companies, followed by trading with 339, real estate development and construction sector with 331, and services with 287 companies. Likewise, 112 companies were incorporated in the food and beverage sector, 102 in the tourism sector, 81 in the education sector, 66 in the e-commerce sector, and 814 companies were incorporated in other sectors.

As a result of integration of SECP with the Federal Board of Revenue (FBR) and various provincial departments, 2,439 companies were registered with the FBR for registration of NTN, 63 companies with EOBI, 46 companies with PESSI/SESSI, and 57 companies with excise and taxation department.

Foreign investment was reported in 81 new companies, having foreign investors from Afghanistan, Australia, China, Indonesia, Ireland, Italy, the Netherlands, Nigeria, Norway, Romania, Russia, Singapore, Spain, Thailand, Turkey, UAE, UK and the US.

Major chunk of investment was received from China with 47 companies, UK with 05 companies, US with 04 companies, Turkey and Afghanistan with 3 companies each, Indonesia, Russia, UAE, Thailand with 2 companies each, and in 11 companies from other countries.

SECP said it has a dedicated WhatsApp facility for instant resolution of the queries pertaining to name availability and incorporation process and during the month, around 1,290 queries were responded.