SECP grants relief to corporate sector

New companies in different sectors getting registration with SECP

Engineering Post Report

As many as 2234 new companies in different sectors got registration  with the Securities and Exchange  Commission of Pakistan (SECP)  in one month of November 2023 .Total capitalization of (paid-up capital ) with regard to  these  newly incorporated  stood at Rs 7.74 billion.

This continued registration of new companies showed a growth of 8 percent as compared to the corresponding period of the last financial year. Total number of registered companies in the country accordingly has risen to 207854.

About  58 percent of these companies were registered as private limited companies while 39 percent were registered  as single member companies and the remaining 3 percent as public limited companies.

 according to the information available from SECP sources,the Information Technology and Trading sectors  took the lead  with registration f   313  companies each, following by Services sector  271, Real Estate Development and Construction with 243, Tourism sector with  106, Food and Beverages sector  with 83,  Education  sector  76, Mining and Quarrying sector  with 67, Marketing and Advertising sector  56, Corporate Agricultural Farming  sector 52, Transport and  Engineering sectors  with 51 each, Commerce and   Power Generation  sectors with 48 each, Pharmaceuticals sector  with 41, Textile sector with 38,  Chemicals sector with 35, Fuel and energy sector   with 32,  Broadcasting and Telecasting sector with26,  Lodging sector with 25,  Cosmetics and Toiletries sector with 19, Communication, Paper and Board sectors with 12 each and Cables and Electrical Goods sector with 11 while 176 companies were registered in others.

Out of new companies registered in November 2023 by SECP,  foreign investment was reported in 72 companies  having foreign investors from a number of countries around the globe with investment in various figures. these countries include  Afghanistan,  Australia, Azerbaijan, China,  Czech Republic,  Finland, Germany,  Iran, Malaysia, Mauritius , Mongolia, the Netherlands,  Qatar,  Saudi Arabia, South Africa,  Turkey, United Arab Emirates ( UAE), UK and the  USA.. Major chunk of foreign investment  was received from China in 44 companies followed by Turkey 4, Azerbaijan  3, Afghanistan, Germany , Malaysia, the Netherlands and USA 2 each.