SECP registers 96 percent new companies through its online system

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,392 new companies in September, raising the total number of incorporated companies to 105,407.

The regulator said that 96 percent of the companies were enrolled through its online eService. “Around 96 percent of the companies were registered through SECP’s eService and 50 percent of them were incorporated on the same day. Most importantly, 85 foreign applicants completed registration from overseas using this service,” it said in a statement.

Around 69 percent of the companies registered in the month were private limited, 27 percent single member companies and the remaining 4pc companies included public unlisted companies, trade organisations, foreign companies, Limited Liability Partnership and not-for-profit associations.

“During the month, 51 new companies have been incorporated with foreign shareholders mainly from China, Denmark, Germany, Hong Kong, Japan, Korea South, Malaysia, the Netherlands, Nigeria, Poland, Singapore, South Africa, Switzerland, Turkey, UAE, UK, USA, and Yemen,” the SCEP said.

In new registrations, the regulator said trading sector took lead with 239 companies, construction and services with 173 each, information technology with 148, tourism with 79 and real estate development with 54 companies.

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