Nearly 2,600 new companies registered
PHOTO: FILE
The Securities and Exchange Commission of Pakistan (SECP) registered 2,595 new companies in March 2023, raising the total number of registered firms to 190,164, said a statement issued on Friday.
Total capitalisation (paid-up capital) of the newly incorporated companies stood at Rs1.8 billion.
About 58% were registered as private limited companies and 39% as single-member companies. Around 3% were registered as public unlisted companies, not-for-profit associations and limited liability partnerships.
Almost 99.69% of companies were registered online and 159 foreign users were registered from overseas.
As a result of integration of SECP with the Federal Board of Revenue (FBR) and various provincial departments, 2,496 companies were registered with the FBR for the generation of National Tax Number (NTN), 71 companies with the Employees Old-age Benefits Institution (EOBI), 62 companies with the Punjab and Sindh Employees Social Security Institutions (PESSI/ SESSI) and 51 companies with the excise and taxation department.
Foreign investment was reported in 89 new companies, which had investors from Afghanistan, China, Denmark, Egypt, Germany, Indonesia, South Korea, Malaysia, the Maldives, the Netherlands, Nigeria, Norway and others.
Published in The Express Tribune, April 8th, 2023.
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