The Securities and Exchange Commission of Pakistan (SECP) has registered 27,746 new companies during the fiscal year 2022-23.
This shows an increase of around 5 per cent as compared to the previous fiscal year as the total number of registered companies now reached 196,805, said a press release.
As a result of end-to-end digitization of the company incorporation process, about 99.8 per cent companies were registered online while 1,256 foreign users were registered from overseas.
Total capitalization (paid-up capital) with regard to newly incorporated companies for the fiscal year 2022-23 stood at Rs 36.6 billion. The real estate development and construction sector led the number of new incorporation with 4,527 new companies registered, followed by information technology with 4,038 new companies and trading with 3,539 new companies.
SECP data shows the services sector with 2,928 new incorporation, food and beverages with 1,106, tourism with 1,101, education with 1,048, commerce with 910, corporate agricultural farming with 732, marketing and advertisement with 672.
Meanwhile, textile with 634, engineering with 591, pharmaceutical with 468, mining, quarrying with 462, healthcare with 451, power generation with 447, transport with 423, chemical with 402, cosmetics and toiletries with 274.
The fuel and energy with 272, auto, allied with 271, communications with 268, lodging with 266, broadcasting & telecasting with 208, paper & board, and cables & electrical goods with 192 each, and 1,324 companies were registered in other sectors.
SECP has made significant reforms to facilitate the registration of companies by fully digitizing the registration process, along with the company registration certificate.
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 also been integrated with Provincial Revenue Departments to facilitate registration of companies with Provincial Revenue Departments at the time of incorporation. The company tax number is also issued online.—APP
