SECP Business Centre records 24pc growth in company incorporation

582
Staff Reporter
Islamabad

The newly established Business Centre of Securities and Exchange Commission of Pakistan (SECP) has recorded 24 percent growth in incorporation of new companies, by registering 837 new companies in January 2021. It is the highest ever incorporations by a single Company Registration Office (CRO).

The SECP Business Centre in Islamabad is a well-equipped office to promptly process applications for incorporation of companies. It has improved the overall user experience with a perspective of providing ease of doing business in Pakistan.

During the month of January, the SECP registered 2,201 new companies, raising the total number of registered companies to 134,797. Out of new incorporations, 98% companies were registered online and around 30% applicant’s completed incorporation process in same day.

Around 69 % companies were registered as private limited companies, while around 28 % were registered as single member companies. 3% were registered as public unlisted companies, not for profit associations, foreign companies and Limited Liability Partnership (LLP). During the month, 66 foreign users completed registration from overseas.

Top 5 sectors in the month of January 2021 include the trading sector with 314 incorporations, information technology with 269, construction 227, services and allied 188, and E-commerce with 79, while 1124 companies were registered in other sectors. Foreign investment has been reported in 44 new companies, from, China, Malaysia, Sweden, South Africa, Norway, Netherlands, Turkey, the UK and the US.

The highest numbers of companies were registered at Business Center Islamabad, followed by 623 and 319 companies registered in CRO Lahore and Karachi respectively.