SECP Registers 2,847 New Companies in August

Web DeskSeptember 14, 2023
SECP Registers 2,847 New Companies in August

In August 2023, the Securities and Exchange Commission of Pakistan (SECP) successfully registered 2,847 new companies, bringing the total number of registered companies in the country to 200,629.

This marked a significant increase of 20.6 percent compared to the same period in the previous year. The combined capitalization of these newly registered companies amounted to Rs. 3.5 billion.

Also Read: Be aware, SECP issues fraud alert

Furthermore, SECP’s integration with various government departments resulted in the registration of companies with entities such as the Federal Board of Revenue (FBR), EOBI, PESSI/SESSI, and the excise and taxation department. The information technology sector led the way with 415 newly registered companies, followed by trading, real estate development & construction, and various other sectors.

Additionally, 69 new companies received foreign investment from countries including China, the US, Afghanistan, and more, with China being the leading investor.

In August, SECP’s WhatsApp service effectively addressed 1,305 queries related to name availability and incorporation, achieving an impressive overall satisfaction rate of 96 percent. These developments reflect the continued growth and diversification of Pakistan’s business landscape, with both local and foreign investors contributing to its expansion and development.

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