There were 2,380 new businesses registered with the Securities and Exchange Commission of Pakistan (SECP) in November 2022, up 10% from the same month in 2021.
The new businesses have a combined paid-up capitalization of Rs 1.9 billion. As of this writing, there are 182,598 active businesses on record. Second, at 347 businesses, was the information technology sector, followed by 300 businesses in trading. Third, at 300 businesses, was the real estate development and construction industry. The vast majority of these establishments have been established through electronic means.
59 percent of the newly formed businesses were private limited companies, 39% were single-member companies, and 2% were public unlisted businesses, nonprofits, trade organisations, or limited liability partnerships (LLP).
To the tune of 99.9 percent, all business registrations were completed in electronic form. Three investment/microfinance businesses with a total paid-in capital of Rs255 million were also registered by the SECP in the month of November.
At the same time, 407 new businesses were started in the real estate development and construction industry. After the trading industry (with 300 enterprises), the information technology sector (347 companies) came in at number two. There were 87 new enterprises registered in the food and beverage sector, 258 new service providers, and 82 new educational institutions.
The authorities registered 14 broadcasting and telecasting firms, 13 car and associated and paper and board companies each, 12 cables and electrical goods, nine arts and culture companies, and 102 other companies.
Tourism had 81, followed by corporate agricultural farming with 76, commerce with 70, marketing and advertising with 63, engineering with 62, textile with 57, pharmaceutical with 50, healthcare with 43, mining and quarrying with 38, a chemical with 37, fuel and energy with 13, transportation with 31, power generation with 30, communications with 27, cosmetics and toiletries with 18 each.
These statements from the official press release indicated that Pakistan is on the path to progress. With so many companies registered with SECP, the corporate sector’s overall efficiency will increase for the benefit of investors, businesses, and the economy.
In 85 new enterprises from Afghanistan, Austria, Australia, Canada, China, Germany, Hongkong, Jordan, South Korea, Mauritius, Nigeria, Norway, Oman, Singapore, South Africa, Spain, Tunisia, the United Arab Emirates, the United Kingdom, and the United States, foreign investment has been reported.
Due to the integration of SECP’s eServices with FBR and various provincial departments, 2,211 companies were registered with FBR for the generation of NTN, 57 companies were registered with EOBI, 32 companies were registered with PESSI/SESSI, and 43 companies were registered with the department of excise and taxation.