ISLAMABAD: Total registration of companies in Pakistan has increased to 176,329 by end of August 2022, according to official statement issued on Monday.
Securities and Exchange Commission of Pakistan (SECP) said it registered 2,362 new companies in August 2022, raising the total number of registered companies to 176,329.
“This shows an increase of 16 per cent as compared to corresponding period last year,” the SECP said.
Total capitalization (paid-up capital) with regard to the newly incorporated companies for the current month stood at Rs4.9 billion.
READ MORE: SECP’s company registration goes up to 169,919 till May 2022
SEC Pakistan said foreign investment had been reported in 70 new companies. These companies have foreign investors from China, Czech Republic, Egypt, Germany, Hong Kong, Iran, Korea South, Malaysia, Maldives, Mongolia, Morocco, the Netherlands, Nigeria, Poland, Portugal, Singapore, Somlia, Spain, Sri Lanka, Syria, Thailand, Turkey, UAE, UK, Ukraine, the US, Vietnam, and Yemen.
READ MORE: SECP, FBR integration brings 2,365 companies under tax net
In August, about 59 per cent companies were registered as private limited companies, while 38 per cent were registered as single member companies. Three per cent were registered as public unlisted companies, not for profit associations, foreign companies and limited liability partnership (LLP).
About 99.8 per cent companies were registered online, while 94 foreign users were registered from overseas.
READ MORE: RDA: SECP exempts banks from obtaining license
The real estate development and construction sector took the lead with incorporation of 418, trading with 318, information technology with 307, services with 234, tourism with 97, food and beverages with 91, ecommerce with 84, education with 78, marketing and advertisement with 69, textile with 65, engineering with 58, power generation with 44, transport with 43, corporate agricultural farming with 39, mining and quarrying with 35, chemical with 34, healthcare with 31 and 317 companies were registered in other sectors.
READ MORE: SEC Pakistan amends regulations to facilitate startups
As a result of integration of SECP with the Federal Board of Revenue (FBR) and various provincial departments, 1796 companies were registered with the FBR for generation of National Tax Number (NTN), 78 companies with Employees Old-age Benefit Institution (EOBI), 46 companies with PESSI/SESSI and 50 companies with excise and taxation department.
