SECP Witnessed 39% Growth in the Incorporation of Companies during First Nine Months
SECP has also revealed that a total of 139,620 have now been registered. Among them, 118,280 companies are active, which means 85 percent of the total companies are filing their annual returns. More surprisingly, the SECP witnessed 72 per cent growth in the registration of new companies in March 2021. Despite the challenges of Covid-19, it registered 2,513 new companies. Around 99 percent companies were registered online, with 25 percent applicants completing the incorporation process the same day. Check Also: Reforms for Ease of Doing Business Led to 39% Growth in February – SECP Moreover, the 260 foreign users were also registered from overseas. Around 65 percent companies were registered as private limited companies. Whereas, around 31 percent were registered as single member companies while the remaining five percent were public unlisted companies. As always, 414 companies are registered in the construction and real estate sector. The sector was followed by trading with 393 companies, IT 311, services 247, and 110 food and beverages companies. Foreign investment has been reported in 43 new companies. These companies have foreign investors from Afghanistan, Australia, China, Germany, Hungary, Iran, Korea South, Mauritius, Norway, Philippines, South Africa, Spain, Sweden, Thailand, Turkey, the UAE, UK and the US. The highest numbers of companies, ie 850 were registered in Islamabad, followed by 751 and 385 companies registered in Lahore and Karachi, respectively.
