In November 2022, the Securities and Exchange Commission of Pakistan (SECP) registered 2,380 new firms, a rise of 10% from the same time last year.
The newly incorporated corporations have a total capitalization (paid-up capital) of Rs 1.9 billion. 182,598 firms have been registered as of this writing. The information technology sector, which included 347 companies, and trading, which included 300 companies, were the two industries that came after real estate development and construction. Nearly all of these businesses were set up online.
About 59 percent of the newly formed businesses were private limited companies, 39 percent were single-member businesses, and two percent were public unlisted businesses, not-for-profit associations, trade associations, and limited liability partnerships (LLP).
The majority of businesses—99.9%—are registered online. Three investment firms/microfinance companies with a combined paid-up capital of Rs255 million were also registered by the SECP in November.
The creation of 407 new businesses during that time topped the real estate development and construction sector. With 347 new companies formed, the information technology industry came in second, followed by the trading sector with 300 new businesses. Regarding meals and drinks, 87 new businesses, 258 new service providers, and 82 educational institutions were registered.
The authorities registered 14 firms in the broadcasting and telecasting industry, 13 in the auto, related, and paper and board industries, 12 in the cable and electrical products industry, 9 in the arts and culture industry, and 102 in other industries.
The number of businesses in the tourism sector was 81, followed by corporate agricultural farming at 76, commerce at 70, marketing and advertising at 63, engineering at 62, textile at 57, pharmaceutical at 50, healthcare at 43, mining and quarrying with 38, a chemical with 37, fuel and energy with 13, transport with 31 and power generation with 30, communications with 27 and the hospitality industry with 18 businesses each.
According to these statements in the official press release, Pakistan is progressing in its growth. The overall effectiveness of the corporate sector will increase as a result of the large number of companies registered with SECP, which will be advantageous to investors, businesses, and the economy.
Foreign investment has been reported in 85 new companies from Afghanistan, Austria, Australia, Canada, China, Germany, Hongkong, Jordan, Korea South, Mauritius, Nigeria, Norway, Oman, Singapore, South Africa, Spain, Tunisia, Turkey, UAE, UK, and the US.
As a result of SECP’s eServices integration with FBR and various provincial departments, 2,211 companies were registered with FBR for the generation of NTN, 57 companies with EOBI, 32 companies with PESSI/SESSI, and 43 companies with the excise and taxation department.