ISLAMABAD: Despite Covid challenges, the registration of new companies grew 72pc to 2,513 in March over the same month last year. This is the highest number of companies ever registered in a single month with the Securities and Exchange Commission of Pakistan (SECP).

The reforms introduced by the SECP for ease of doing business and digitalisation are resulting in continued growth of entrepreneurship.

The SECP registered 19,251 new companies in the July-March period of this fiscal year, growth of 39 per cent over the same period last year.

The SECP registered 14,493 companies in 2018-19 and 16,945 companies in 2019-20.

The total number of registered companies has now reached 139,620. Out of the total registered companies, 118,280 companies are active accounting for 85pc of total companies which are filing their annual returns.

In March, around 99pc companies were registered online and 25pc of applicants completed the incorporated process the same day.

Around 65pc companies were registered as private limited companies, while around 31pc were registered as single member companies and the remaining 5pc were public unlisted companies, not for profit associations, trade organisations, foreign companies and limited liability partnerships.

The construction and real estate sector took the lead with the incorporation of 414, trading with 393, IT with 311, services with 247, and food and beverages with 110.

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.

Published in Dawn, April 10th, 2021