Registration of companies with the Securities and Exchange Commission of Pakistan (SECP) more than doubled in May compared to the same month last year.
As many as 1,597 new companies registered in May, the SECP shared this on Friday.
“This is for the second consecutive month that over 100% growth in the incorporation of new companies is being witnessed. The trend of growth is credited to digitalization/automation, the introduction of simplified combined processes for name reservation and incorporation, and facilitation extended by the SECP’s newly established business centre,” the SECP said in a statement.
As many as 143,416 businesses are registered with the SECP. In May, around 99% of companies registered online, 36% completed the incorporation process the same day, while 175 foreign users were also registered overseas.
In MAY, the SECP said that 68% percent of companies got the label of private limited, 28% single member, and the remaining 4% include unlisted public companies, not-for-profit associations, trade organizations, and limited liability partnerships.
The construction and real estate sector took the lead with the incorporation of 252 companies.
Also read: Pakistan to Compete Intel 10th Gen Notebooks with Local Viper P40 Notebook
Here you can find a list of the number of companies that registered differently as per various sectors:
- Trading: 247
- Information and technology: 216
- Services: 149
- E-commerce: 64
- Food and beverages: 59
- Education: 51
- Corporate agricultural farming: 50
- Market and development: 39
- Textile: 37
- Tourism: 34
- Chemical: 33
- Healthcare: 31
- Engineering: 29
- Auto and allied: 27
- Logging: 25
- Pharmaceutical: 24
- Mining and quarrying: 21
- Broadcasting and telecasting, and fuel and energy: 19 each
- Cables and electric goods, paper and board, and transport: 16 each
- Cosmetics and toiletries: 14
- Power generation 12
- Communication: 11
Moreover, the remaining 67 companies were registered in other sectors.