ISLAMABAD: Securities and Exchange Commission (SEC) of Pakistan has registered 2,595 new companies in March 2023, according to a statement issued on Friday.
The SEC Pakistan said that the latest incorporation had an increase of 10 per cent as compared to corresponding period of last year.
The total number of registered companies now stands at 190,161.
Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs. 1.8 billion.
About 58 percent companies were registered as private limited companies, while 39 percent were registered as single member companies.
About 03 percent were registered as public unlisted companies, not for profit associations and limited liability partnerships (LLP).
Almost 99.69 percent companies were registered online. 159 foreign users were registered from overseas. The information technology sector took the lead with incorporation of with 397 Companies , real estate development & construction 385 each, trading with 339, services with 282, education with 121, tourism with 106, food & beverages with 96, ecommerce 74, marketing & advertisement with 72, textile with 62, corporate agricultural farming 51, engineering with 49, mining & quarrying with 48, healthcare with 44, pharmaceutical 39, power generation with 37, cosmetics and toiletries and chemical with 34 each, transport with 33, cables and electrical goods and broadcasting & telecasting with 26 each, communications with 25, fuel & energy with 24, paper & board with 20, auto & allied with 19, lodging with 18, arts and culture with 13 and 122 companies were registered in other sectors.
As a result of integration of SEC Pakistan with Federal Board of Revenue (FBR) and various provincial departments, 2,496 companies were registered with FBR for generation of NTN, 71 companies with EOBI, 62 companies with PESSI/SESSI and 51 companies with excise and taxation department. Foreign investment has been reported in 89 new companies, having foreign investors from Afghanistan, China, Denmark, Egypt, Germany, Indonesia, Korea South, Malaysia, Maldives, Netherlands, Nigeria, Norway, Philippines, Portugal, Saudi Arabia, South Africa, Tajikistan, Turkey, UAE, UK and USA.
Major chunk of investment was received from China with 47 companies, Nigeria with 05 companies, Germany and Philippines with 04 each, Malaysia, Saudi Arabia, UK and USA with 3 each, Afghanistan, Egypt and South Korea with 2 each and from other countries in 11 companies.
The SEC Pakistan has also a dedicated WhatsApp facility for instant resolution of the queries pertaining to name availability and incorporation process and during this month, around 1,254 queries were responded with 95 per cent satisfaction rate.
READ MORE: SECP company registration tops at 187,569 by February 2023
