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SECP REGISTERS 2,234 NEW COMPANIES IN NOVEMBER 2023, REFLECTING 8% GROWTH

SECP REGISTERS 2,234 NEW COMPANIES IN NOVEMBER 2023, REFLECTING 8% GROWTH

“SECP Registers 2,234 New Companies in November 2023, Reflecting 8% Growth”

In November 2023, the Securities and Exchange Commission of Pakistan (SECP) recorded the registration of 2,234 new companies, marking an 8% growth in the first five months of the current financial year compared to the same period last year. The total number of registered companies has now reached 207,654, with a total capitalization of Rs. 7.74 billion for the newly incorporated companies this month.

Approximately 58% of the companies registered were private limited, while 39% were single-member companies, and the remaining 3% included public unlisted companies, not-for-profit associations, trade organizations, limited liability partnerships (LLP), and foreign companies. Two foreign companies have established a place of business in Pakistan. Nearly 99.6% of companies were registered online.

The information technology and trading sectors led with the incorporation of 313 companies each, followed by services with 271, real estate development and construction with 243, tourism with 106, and various other sectors.

As a result of SECP’s integration with FBR and various provincial departments, 2,169 companies registered with FBR for NTN, 57 with EOBI, 39 with PESSI/SESSI, and 38 with the excise and taxation department. Foreign investment was reported in 72 new companies, primarily from China, Turkey, Azerbaijan, and various other countries.

SECP’s dedicated WhatsApp facility addressed around 1,172 queries related to name availability and the incorporation process during this month.

#SECP #CompanyRegistration #BusinessGrowth #FinancialNews #PakistanBusiness #NewCompanies #CorporateGrowth #SECPUpdates #EconomicDevelopment #FinancialYear #ForeignInvestment #BusinessSectors #CorporateRegistration

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