SECP registers 2,361 new companies in October 2022

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,361 new companies during the month of October, showing an increase of 17 percent as compared to the registration of last month.
The total number of registered companies was recorded at 180,996, whereas foreign investment has been reported in 77 new companies, said a statement issued by SECP on Friday.
These companies have foreign investors from Afghanistan, Austria, Australia, Bangladesh, China, Denmark, Iran, Italy, Jordan, Korea South, Lebanon, Lithuania, Norway, Saudi Arabia, Singapore, Yemen, Tunisia, Turkey, the UAE, the UK, and the US.
Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs3 billion. In October, about 60 percent companies were registered as private limited companies, while 37 percent were registered as single member companies. About 03 percent were registered as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP). Nearly 99.8 percent companies were registered online.
The real estate development and construction sector took the lead with incorporation of 432, information technology 355, trading 279, services 234, food & beverages 93, e-commerce 92, tourism with 84 and education 83.
Meanwhile, 72 companies registered in corporate agricultural farming, 56 in marketing & advertisement, 45 engineering, power generation with 44, and 814 companies were registered in other sectors. As a result of integration of SECP with the Federal board of Revenue and various provincial departments, 1,969 companies were registered with FBR for the generation of NTN, 81 companies with EOBI, 47 companies with PESSI/SESSI and 57 companies with excise and taxation department.-PNP