Islamabad, February 20, 2024 – The Securities and Exchange Commission of Pakistan (SECP) has reported a substantial increase in company registrations, reaching a total of 212,108 by the end of January 2024.
According to a statement released on Monday, the SECP registered 2,651 new companies during January 2024, marking a notable 10 percent surge compared to the corresponding period last year.
The total capitalization (paid-up capital) for the newly incorporated companies amounted to Rs5.2 billion. January’s registrations showcased a diverse mix, with approximately 58 percent of companies being registered as private limited entities, 38 percent as single member companies, and 4 percent as public unlisted companies, not-for-profit associations, trade organizations, limited liability partnerships, and foreign companies. Notably, five foreign companies also registered their place of business in Pakistan, demonstrating the country’s appeal to international investors.
A significant aspect of the registration process is the digital transformation, with almost 99.85 percent of companies being registered online. The SECP’s eServices platform facilitated the registration of around 138 foreign applicants from overseas, highlighting the efficiency and accessibility of the online registration system.
Breaking down the sector-wise distribution of registrations, the information technology sector led the way with 356 newly incorporated companies, followed by trading with 319, and real estate development & construction and services with 277 each. Other prominent sectors include tourism (145), education (116), food & beverages (94), corporate agricultural farming (93), e-commerce (72), engineering (65), and chemical (61). The diversification of industries illustrates a robust economic landscape with contributions from various sectors.
Foreign investment has played a significant role in the surge, with 68 new companies reporting foreign investors. These investors hail from a range of countries, including Afghanistan, Azerbaijan, Canada, China, Egypt, Finland, Germany, Hungary, Japan, Malta, Nigeria, Palestine, Saudi Arabia, Singapore, Sri Lanka, Switzerland, UAE, UK, Ukraine, and the US.
The SECP’s proactive approach in facilitating business registrations and attracting foreign investments underscores Pakistan’s growing appeal as a business-friendly destination. The digitalization of registration processes has not only streamlined procedures but also increased transparency, contributing to the overall efficiency of the business ecosystem. As the country continues to attract diverse investments across various sectors, the SECP’s role in facilitating a conducive business environment remains pivotal.
