Wednesday September 28, 2022

SECP registers 1,691 new firms in July

By Our Correspondent
August 13, 2022

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 1,691 new companies in July, the first month of fiscal year 2022, a statement said on Friday.

After July's incorporations, the total number of registered companies with the SECP now stands at 173,897, the SECP said.

Total capitalisation (paid-up-capital) with regard to newly incorporated companies for July 2022 stood at Rs2.5 billion. Foreign investment has been reported in 44 new firms, from Afghanistan, China, Dominican Republic, Egypt, Germany, Kazakhstan Madagascar, the Netherlands, Saudi Arabia, Spain, Tanzania, Thailand, Turkey, the UK and the US, the regulator added.

About 59 percent 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 partnership.

About 99.8 percent firms were registered online, while 144 foreign users were registered from overseas.

The real estate development and construction sector took the lead with incorporation of 312, information technology 245, trading 208, services 170, e-commerce 66, education 65, tourism 60, food and beverages 57, textile 48, engineering 43, marketing and advertisement 41, and corporate agricultural farming with 38 new companies.

Moreover, power generation registered 37 new firms, auto and allied 31, pharmaceutical 30, healthcare, and mining and quarrying with 26 each, chemical 25, transport 20, logging 16, broadcasting and telecasting, and paper and board with 13 each, cables and electric goods, and fuel/energy with 12 each, and 77 firms were registered in other sectors.