The Securities and Exchange Commission of Pakistan (SECP) registered 1,956 new companies in November, indicating a year-on-year increase of 41 percent.
The statement was revealed on Tuesday according to which, compared with the corresponding period of last year, 41 percent of increase has been observed this year. Around 71 percent were registered as private limited companies and 26 percent were registered as single member companies, it added.
While the rest of the three percent were registered as public unlisted companies, not-for-profit associations, trade organizations, foreign companies and limited liability partnership (LLP).
The highest number of companies, i.e, 628 were registered in Islamabad; followed by 625 and 349 companies in Lahore and Karachi, respectively, as per the statement.
Whereas, in November, around 99 percent of companies were registered online, while 30 percent of the new incorporations were completed the same day. This month, 117 foreign users registered companies from overseas, the statement further said.
According to SECP, the trading sector took the lead with the incorporation of 319 in November alone while,
- IT with 230
- Construction with 209
- services with 198
- real estate development with 139
- corporate agricultural farming, & food and beverages with 74 each
- ecommerce with 73
- engineering with 60
- tourism with 51
- education with 48
- pharmaceutical with 47
- market & development with 43
- textile with 40
- transport with 35
- chemical with 33
- healthcare with 31
- auto & allied with 27
- fuel & energy, and mining & quarrying with 23 each logging with 22
- cosmetics & toiletries with 21
- communications with 17
- broadcasting & telecasting with 16
- power generation with 14
- cables & electric goods, and steel & allied with 12 each
- Meanwhile, 65 companies were registered in other sectors.
34 new companies with foreign investment have foreign investors from Australia, China, Germany, Iran, Italy, Kazakhstan, South Korea, Lebanon, Mozambique, the Netherlands, Russia, Spain, Switzerland, Syria, Turkey, the UAE, the UK and US.