ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,760 new companies with a total paid-up capital of Rs2.9 billion in April, bringing the total number to 191,924.
Approximately 57 per cent of businesses registered in April were private limited companies, 41pc as single-member businesses, and 2pc companies were registered as limited liability partnerships, not-for-profit organisations, and unlisted public companies (LLP).
Nearly 99.8 per cent of businesses were registered online. The new registrations also included 70 foreign applicants.
Foreign investment has been reported in 67 new companies, having foreign investors from Afghanistan, Canada, China, Cyprus, Denmark, Egypt, Germany, Hong Kong, Iran, Japan, Jordan South Korea, the Netherlands, Singapore, Slovakia Republic, South Africa, Spain, Sri Lanka, Switzerland, Syria, Thailand, Turkey, UAE, UK and US.
A major chunk of investment was received from China with 36 companies, Germany, and South Korea with four each, Hong Kong, Turkey, South Africa, the UK and the US with 2 each, and 13 companies from other countries.
As a result of the integration of SECP’s E-services with FBR and various provincial departments, 1,700 companies were registered with FBR for the generation of NTN, 73 companies with EOBI, 40 companies with PESSI/SESSI, and 55 companies with the excise and taxation department.
The SECP also has a dedicated WhatsApp facility for instant resolution of queries pertaining to name availability and incorporation processes, and during this month, around 1,020 queries were responded to with a 94pc satisfaction rate.
Published in Dawn, May 12th, 2023