SECP Registers 2,361 New Companies in October 2022

The Securities and Exchange Commission of Pakistan (SECP) registered 2,361 new companies in October 2022. This shows an increase of 17 percent as compared to the corresponding period last month. The total number of registered companies now stands at 180,996. Foreign investment has been reported in 77 new companies. 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 U.A.E., the U.K., and the U.S. Total capitalization (paid-up capital) with regard to newly incorporated companies for the current month stood at Rs. 3 billion. In October, about 60 percent of companies were registered as private limited companies, while 37 percent were registered as single-member companies. About three percent were registered as public unlisted companies, not-for-profit associations, foreign companies, and limited liability partnerships (LLP). Nearly 99.8 percent of companies were registered online. The real estate development and construction sector took the lead with the incorporation of 432, information technology with 355, trading with 279, services with 234, food and beverages with 93, e-commerce with 92, tourism with 84, education with 83, corporate agricultural farming with 72, marketing and advertisement with 56, engineering with 45, power generation with 44, and 814 companies were registered in other sectors. As a result of the integration of SECP with the Federal Board of Revenue and various provincial departments, 1,969 companies were registered with FBR for the generation of national tax number, 81 companies with Employees’ Old-Age Benefits Institution (EOBI), 47 companies with Punjab/Sindh Employees’ Social Security Institution (PESSI/SESSI), and 57 companies with excise and taxation department.