SECP registered 1,317 new companies in January 2019, 9 percent growth over the previous year.
The Securities and Exchange Commission of Pakistan (SECP) registered a grand total of 1,317 new companies in the month of January, raising the total number of registered companies in Pakistan to 95,000.
This represents an impressive growth of 9 percent over the corresponding month in the previous year, and is symbolic of the steady growth that Pakistan has been experiencing in the number of registered companies over the past decade.
This time, around 73 percent companies were registered as private limited companies and around 24 percent as single-member companies. Public unlisted, non-profit associations, foreign companies and limited liability partnership (LLP) accounted for the remaining 3 percent.
In terms of sector, trading is the frontrunner with the incorporation of 214 companies, followed by services with 185, construction with 180, IT with 128, tourism with 74, food and beverages with 43, education, marketing and advertising, and real estate development with 42 each, transport with 40, corporate agricultural farming with 37, engineering with 30, communication, and pharmaceutical with 24 each, textile with 19, mining and quarrying with 18, broadcasting and telecasting, and fuel and energy with 16 each, chemical and cosmetics and toiletries with 13 each, cables and electric goods, lodging, and power generation with 12 each, healthcare with 11, and 70 companies were registered in other sectors.
A total of 61 companies have received foreign investment, compared to 55 from last year. Big names like China, Germany, Japan, the UK and the USA feature in the list of countries involved in investing.
The greatest number of companies (477) have been registered in Islamabad, followed by Lahore (346) and Karachi (274).
This phenomenal growth can be attributed to reforms introduced by the SECP, which include simplified and streamlined process for reservation of name and incorporation, reduced fees and assistance provided by contract research organizations.