SECP witnesses over 100pc growth in company's incorporation

Registration of new companies with the Securities and Exchange Commission of Pakistan (SECP), a financial regulatory body in Pakistan, has increased by 107%.

A total of 1,597 companies were registered in May, up 107 per cent from the previous year, the SECP said on Twitter.

The SECP registered 1,597 new companies in May, witnessing a growth of 107% as compared to corresponding period last year, raising the total number of companies to 143,416. This is for 2nd consistent month that over 100% growth in incorporation of new companies is being witnessed pic.twitter.com/dnbUevtWnX

— SEC Pakistan (@SECPakistan) June 4, 2021

It has been stated that the total number of registered companies in Pakistan has reached 143,416.

SECP said, “This is for 2nd consistent month that over 100% growth in incorporation of new companies is being witnessed.”

According to the SECP, 252 companies are registered in the construction sector, 247 in the trading sector and 216 in the information technology sector.

The trend of growth is attributed to digitalization/automation, introduction of simplified combined processes for name reservation and incorporation, and facilitation extended by the SECP’s newly established Business Centre. pic.twitter.com/3smIuFBfiZ

— SEC Pakistan (@SECPakistan) June 4, 2021

In addition, 149 companies are registered in the services sector while 48 companies received foreign investment in May.

There are 519 companies registered in Islamabad, 513 in Lahore, 250 in Karachi and 116 in Peshawar.