Pakistan has allowed registration of 70 foreign companies in the month of April 2023. This brings the total number of registered companies to 191,924 with the Securities and Exchange Commission of Pakistan (SECP).
During April, the SECP registered a total of 1,760 new companies, with a combined paid-up capital of Rs 2.9 billion. The majority of businesses, approximately 57 percent, were registered as private limited companies, while 41 percent were registered as single-member businesses. The remaining 2 percent consisted of limited liability partnerships, not-for-profit organizations, and unlisted public companies.
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An overwhelming 99.8 percent of these businesses were registered online, showcasing the efficiency and accessibility of the SECP’s digital registration system.
Foreign investment was observed in 67 of the newly registered companies, with investors hailing from various countries including Afghanistan, Canada, China, Cyprus, Denmark, Egypt, Germany, Hong Kong, Iran, Japan, Jordan, South Korea, the Netherlands, Singapore, Slovakia Republic, South Africa, Spain, Sri Lanka, Switzerland, Syria, Thailand, Turkey, UAE, UK, and US. Notably, China accounted for the highest number of investments, with 36 companies, followed by Germany and South Korea with 4 each.
In terms of sectors, the information technology sector led the way with 267 incorporated companies, followed by real estate development and construction with 228, trading with 222, services with 194, and food and beverages with 93. Other sectors that witnessed significant registrations included ecommerce, education, tourism, textile, marketing and advertisement, corporate agricultural farming, engineering, healthcare, chemical, pharmaceutical, power generation, mining and quarrying, cosmetics and toiletries, auto and allied, broadcasting and telecasting, communications, fuel and energy, transport, lodging, cables and electrical goods, and paper and board.
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Moreover, the integration of SECP’s E-services with the Federal Board of Revenue (FBR) and various provincial departments allowed for seamless registration and interaction. As a result, 1,700 companies registered with FBR for the generation of National Tax Numbers (NTN), 73 companies with the Employees’ Old-Age Benefits Institution (EOBI), 40 companies with the Punjab Employees’ Social Security Institution (PESSI) and Sindh Employees’ Social Security Institution (SESSI), and 55 companies with the excise and taxation department.
To provide prompt assistance, the SECP established a dedicated WhatsApp facility to address queries related to name availability and the incorporation process. In April, the SECP successfully responded to approximately 1,020 queries with a 94 percent satisfaction rate, ensuring efficient customer service.
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