SECP grants relief to corporate sector

Registration of news companies in SECP in different sectors continues

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.