1,317 new companies registered in January

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ISLAMABAD: The Securities and Exchange Commission of Pakistan in January registered 1,317 new companies.

As compared to the corresponding month of the last financial year, it represents a growth of 9pc, raising the number of registered companies to over 95,000.

The massive increase is the result of the SECP’s various reforms measures, i.e. introduction of a simplified combined process for name reservation and incorporation, one window facility for company incorporation and National Tax Number generation, reduction of fee, and assistance in incorporation through the facilitation wings of company registration offices.

Around 73pc companies were registered as private limited companies, while around 24pc were registered as single-member companies. Three per cent were registered as public unlisted, non-profit associations, foreign companies and limited liability partnership (LLP).

The trading sector took the lead with the incorporation of 214 companies, services with 185, construction with 180, IT with 128, tourism with 74, food and beverages with 43, education, marketing and advertising, and real estate development with 42 each, transport with 40, corporate agricultural farming with 37, engineering with 30, communication and  pharmaceutical with 24 each, textile with 19, mining and quarrying with 18, broadcasting and telecasting, and fuel and energy with 16 each, chemicals, cosmetics and toiletries with 13 each, cables and electric goods, lodging, and power generation with 12 each, healthcare with 11, while 70 companies were registered in other sectors.

Foreign investment has been reported in 61 new companies. These companies received investments from China, Egypt, Germany, Hong Kong, Italy, Japan, Luxembourg, Malaysia, Morocco, the Netherlands, Qatar, Saudi Arabia, Sri Lanka, Sweden, the UK, and the US.

The highest numbers of companies, i.e. 477, were registered in Islamabad, followed by 346 and 274 in Lahore and Karachi respectively. The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta, and Sukkur registered 82, 56, 39, 25, 14 and 4 companies respectively.

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