Engineering Post Report
Large number of 27746 new companies in different sectors were registered by the Securities and Exchange Commission (SECP) during last year 2022-23 raising the total number of registered companies to 196805 in the country.
As a result of end to end digitization of the company incorporation, as high as 99.8 percent of companies were registered online while 1256 foreign users were registered from overseas .
Out of the newly registered companies, 58 percent were registered as private limited companies while 39 percent were registered as single member companies.
Foreign investment was reported in 841 new companies. Major chunk of foreign investment was received from China with 448 companies, the USA with 46, the UK with 36, Afghanistan with 35, Germany with 32, Turkey and South Korea with 16 each, UAE with 15, Singapore with 11, Nigeria with 10 and 176 companies were from other countries.
According to information available from SECP sources, total paid up capital with regard to newly incorporated companies during last financial year stood at Rs 36.6 billion.
Out of the newly registered companies, 1106 were in tourism sector, ecommerce sector 910, marketing and advertising sector 672, textile sector 634, engineering sector 591, pharmaceutical sector 468, mining and quarrying sector 462, power generation 447, transport sector 423, chemicals sector 402, fuel and energy sector 272, auto and allied 271, communication 268, cables and electrical goods 192 each besides other sectors.
