The newly established Business Center of Securities and Exchange Commission of Pakistan (SECP) recorded 24 percent growth in the incorporation of new companies.
The center registered 837 new companies in January 2021. It is the highest ever incorporation by a single Company Registration Office (CRO).
The SECP Business Center in Islamabad is a well-equipped office to promptly process applications for the incorporation of companies. It has improved the overall user experience with a perspective of providing ease of doing business in Pakistan.
During the month of January, the SECP registered 2,201 new companies, raising the total number of registered companies to 134,797. Out of new incorporations, 98 percent of companies were registered online and around 30 percent of the applicant’s completed the incorporation process on the same day.
Around 69 percent of companies were registered as private limited companies, while around 28 percent were registered as single-member companies.
Three percent of the companies were registered as public unlisted companies, not-for-profit associations, foreign companies, and Limited Liability Partnership (LLP).
During the month, 66 foreign users completed registration from overseas.
The top five sectors in the month of January 2021, included the trading sector with 314 incorporations, information technology with 269, construction 227, services and allied 188, and E-commerce with 79, while 1124 companies were registered in other sectors.
Foreign investment has been reported in 44 new companies, from, China, Malaysia, Sweden, South Africa, Norway, Netherlands, Turkey, the UK and the US. The highest numbers of companies were registered at Business Center Islamabad, followed by 623 and 319 companies registered in CRO Lahore and Karachi, respectively.
The CROs in Peshawar, Multan, Faisalabad, Gilgit-Baltistan, Quetta, and Sukkur registered 156, 122, 56, 53, 22 and 13 companies, respectively.