ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 2,185 new companies in April, up 186% from the same month last year, bringing the total number of registered companies to 141,805.

In April, around 99% of businesses were registered online, 29% of applicants completed the incorporation process on the same day, while 220 overseas users were also registered from overseas.

SECP President Aamir Khan attributed the growth trend to digitization and automation, the introduction of a simplified combined process for reservation and name incorporation, to the very low level of fees. and assistance provided for incorporation by the newly created business center.

The April incorporation included 67% limited liability companies, 29% one-person companies, and the remaining 4% were unlisted public companies, non-profit associations, trade organizations, foreign companies and corporations. limited liability companies.

The IT sector, for the first time, took the lead with the registration of 194 new companies in one month, followed by the commercial sector with the registration of 180 new companies, construction with 117, import and export. with 115 and consulting services with 110.

Foreign investments were reported in 47 new businesses. These companies have foreign investors from USA, China, Saudi Arabia, Germany, UAE, Greece, Turkey, Norway, Canada, Netherlands, Syria, Kingdom United, Hong Kong and Australia.

Posted in Dawn on May 6, 2021



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