ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,597 new companies in May 2021, witnessing a growth of 107 per cent compared to the corresponding period last year, the regulator said on Friday. The total number of registered companies increased to 143,416.

This is for the second consistent month that over 100pc growth in incorporation of new companies is being witnessed. The trend of growth is attributed to digitalisation/automation, introduction of simplified combined processes for name reservation and incorporation, and facilitation extended by the SECP’s newly established Business Centre.

In May, around 99pc companies were registered online, 36pc of applicants completed the incorporation process same day while 175 foreign users were also registered from overseas. During the month of May, 68pc companies had been private limited, 28p single member and remaining 4pc comprise public unlisted companies, not for profit associations, trade organisations and limited liability partnerships (LLP).

Foreign investment has been reported in 48 new companies from Azerbaijan, China, Denmark, Germany, South Korea, Kuwait, Malta, the Netherlands, Norway, Russia, Singapore, Turkey, UAE, the UK and the US.

Published in Dawn, June 5th, 2021