SECP Registered 2,345 New Companies in April 2022

The Securities and Exchange Commission of Pakistan (SECP) registered 2,345 new companies in April 2022, which brought the total number of registered companies to 168,030.

This is a seven percent increase as compared to the corresponding period last year.

The total capitalization (paid-up-capital) for the newly incorporated companies stood at Rs. 3.1 billion.

ALSO READ
SECP Allows Use of Electronic Voting Facility for Members of Listed Companies

Foreign investment has been reported in 63 new companies. These companies have foreign investors from Afghanistan, Austria, Azerbaijan, Canada, China, Denmark, Dominican Republic, Germany, Ireland, Jordan, Korea South, Philippines, Saudi Arabia, South Africa, Turkey, the UAE, the UK, Ukraine, and the USA.

About 65 percent were registered as private limited companies while 33 percent were registered as single-member companies. Two percent were registered as public unlisted companies, not-for-profit associations, foreign companies, and limited liability partnerships (LLP). Nearly 99.8 percent of companies were registered online and 0.02 percent were registered offline while 175 foreign users were registered from overseas.

ALSO READ
Pakistan’s Large Scale Manufacturing Broke All Records in March 2022

The real estate development and construction sector took the lead with the incorporation of 434 companies, information technology with 355, trading with 285, services with 195, food and beverages with 93, e-commerce with 88, education with 81, tourism with 75, marketing and advertisement with 64, corporate agricultural farming with 60, engineering with 59, healthcare with 50, pharmaceutical with 48, textile with 45, chemical with 44, logging with 40, mining and quarrying with 39, communication, and transport with 31 each,  auto and allied, and power generation with 26 each, cables and electric goods with 22, fuel and energy with 17, broadcasting and telecasting, and paper and board with 16 each, cosmetics and toiletries with 15, arts and culture with 14, and 76 companies were registered in other sectors.

As a result of the integration of the SECP with the Federal Board of Revenue (FBR) and various provincial departments, 2,252 companies were registered with the FBR for the generation of National Tax Numbers (NTN), 58 companies with the Employees’ Old-Age Benefits (EOBI), and two companies with the Punjab Employees Social Security Institution (PESSI)/Sindh Employees Social Security Institution (SESSI).

The post SECP Registered 2,345 New Companies in April 2022 appeared first on .

Updated: May 14, 2022 — 3:04 pm
Techinfo Latest Technology News Frontier Theme