Engineering Post Report
Irrespective of the sorts of serious challenges facing the national economy, it is quite encouraging to note that more and more new companies are being launched in different sectors in the country every month.
According to the latest information available from the Securities and Exchange Commission of Pakistan (SECP), as many as 2596 new companies were registered with it during March 2023 which also marked the end of the third quarter of the ongoing financial year 2022-23..Following registration of these new companies, total number of registered companies in the country has now risen to 19016.
The Information Technology (IT) sector took the lead with the incorporation of 397 new companies,construction and real estate development sectors following with 385 companies each, trading sector 339 companies, tourism sector 106 companies’-Ecommerce sector 74 companies, textile sector 62 companies engineering sector 49 companies, power generation sector 37 companies, transport sector 33 companies, cables and electrical goods sectors 26 companies, communications sector 25, fuel and energy sector 24 companies auto and allied sector 19 companies among other sectors.
Total capitalization (paid-up capital capital) of these newly incorporated companies stood at Rs 1.8 billion.
The sources pointed out that about 58 per cent of the companies were registered as private limited companies ,39 per cent as single-member companies and around three per cent of these companies got registration done as public unlisted companies, not for profit associations and with limited liability partnerships.
Almost 99.69 per cent of new companies were registered online and 159 foreign users were registered from overseas. Details about the countries of origin were not immediately available.