SECP registers 16,929 firms in FY20
The Security and Exchange Commission of Pakistan (SECP) registered 16,929 new companies in the financial year 2019-20, compared to 2018-19, indicating a growth of 17%, according to the annual report of SECP. This has raised the total number of registered companies to 120,395. In the new incorporations, approximately 71% companies were registered as private limited companies, 26% were as single-member companies, 3% as public unlisted, association’s not-for-profit, trade organisations, foreign companies and limited liability partnership. During 2019-20, 98% companies were registered online and around 44% companies registered on the same day. In the period under review, trading sector took a lead with the incorporation of 2,863 companies, followed by information technology with 2,027, services with 1,929, construction with 1,752, tourism with 829, real estate development with 773, food and beverages 637, education with 609, corporate agricultural farming with 496, engineering with 437, marketing and development with 398, textile with 370, pharmaceutical with 349, mining and quarrying 294, healthcare with 284, transport with 282, chemical with 264, and auto and allied with 195 companies.
Published in The Express Tribune, December 30th, 2020.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.