Massive increase in entrepreneurship in Pakistan as SECP records 70% surge in registrations
More than 2000+ companies have been registered with SECP in September as per the latest stats released. Almost all of the registrations were done online and more than 40% of the registrations were made in one day. These are groundbreaking stats which show a massive increase in entrepreneurship in the country. This will increase employment opportunities in the country and invite more investments from abroad.
As per SECP, around 68% of the companies were registered as private limited companies. Whereas around 29% were single-member companies and 3% were registered as either public unlisted companies and not for profit associations. These indicators along with several other measures taken by the Government have suggested that there will be positive GDP growth of 1% this fiscal year.
According to the breakdown provided by SECP, some of the companies registered were in the following sectors:
- Trading Sector – 414 companies
- Construction Sector – 294 companies
- IT Sector – 289 companies
- Services sector – 226 companies
- Real Estate – 139 companies
- Food and Beverages – 87 companies
- Education – 63 companies
- Engineering – 61 companies and more
Investors from Australia, China, Egypt, Germany, Greece, Iran, Italy, Japan, the Netherlands, Norway, Saudi Arabia, Singapore, the UAE, the UK, the US and Yemen have invested in 43 new companies in Pakistan as per the SECP filings. Around 812 companies were registered in the Federal Capital followed by 764 in Lahore and 348 in Karachi.