The Securities and Exchange Commission of Pakistan (SECP) registered 26,502 new companies in FY 2021-22, which shows an increase of 4% as compared to previous FY.
The total number of registered companies with SECP now stands at 172,206
Real estate development & construction sector led the number of new incorporations with 4,791 new companies registered, followed by information technology with 3,760 new companies and trading with 3,534 new companies.
As a result of end to end digitization of the company incorporation process, about 99.5 percent of companies were registered online while 1,640 foreign users were registered from overseas. Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs42.4 billion.
SECP has made significant reforms to facilitate the registration of companies by fully digitizing the registration process, along with company registration certificates. With this automation, companies can now be registered online from any part of the world, without needing to visit SECP offices. SECP’s e-services have been integrated with Provincial Revenue Departments to facilitate registration of companies with Provincial Revenue Departments at the time of incorporation. Company tax numbers are also issued online.
In addition, an online portal has also been created for banks to facilitate companies in opening corporate accounts after registration.—APP
