The Securities and Exchange Commission of Pakistan (SECP) has unveiled the data for the month of July 2018, a total of 1076 new firms registered with SECP during the month of July. There was an increase of 30 percent as compared to the previous month, the organization said in a statement.
As a result of various reforms by SECP, the overall registration of companies surged to 88,701, as the organization introduced a simplified process of name reservation and incorporation. The organization also introduced low fees, along with assistance provided by facilitating wings CROs.
According to the figures, 73 percent of the companies were registered as private limited companies, 24 percent of the companies were registered as single owner or sole traders and 3 percent of the companies were registered as public unlisted, foreign companies, non-profit and limited liability partnerships (LLPs).
While going into the details of registered sectors, the SECP has registered 197 companies in the trading sector, 126 companies in the services sector, 135 companies in the construction sector and 111 companies in the IT sector.
The IT sector is now pacing with other popular sectors in Pakistan, the government’s support and dedicated care to the sector could drive more growth to the sector.
The other sectors in which the companies were registered include 46 tourism, 35 real estate development, 33 in education, 33 in marketing and development, 32 in engineering, 31 in corporate agricultural farming, 25 in food and beverages, 18 in broadcasting and telecasting, 18 in textile, 18 in transport, 17 in fuel & energy, 17 in healthcare, 15 in pharmaceuticals, 11 in cable & electric goods, and 11 in paper and board. The SECP has registered a total of 147 companies in “other sectors”.
Furthermore, 8 foreign companies were registered by CROs in Islamabad, Karachi, and Lahore. Pakistani 47 new companies have attracted foreign investment, the foreign investors belong to China, Australia, Germany, South Korea, Netherlands, Norway, UK, Spain, Turkey, Thailand, and Singapore.