SECP Business Center records 24 percent growth

ISLAMABAD:Newly established Business Center of Security and Exchange Commission of Pakistan (SECP) on Monday recorded 24 percent growth in incorporation of new companies, by registering 837 new companies in January 2021.

It is the highest ever incorporation by a single Company Registration Office (CRO), said a press release issued by SECP here on Monday.

The SECP Business Center in Islamabad is a well-equipped office to promptly process applications for incorporation of companies.

It has improved the overall user experience with a perspective of providing ease of doing business in Pakistan.

During the month of January, the SECP registered 2,201 new companies, raising the total number of registered companies to 134,797.

Out of new incorporation, 98 percent companies were registered online and around 30 percent applicant’s completed incorporation process in same day.

Around 69 percent companies were registered as private limited companies, while around 28 percent were registered as single member companies.

3 percent were registered as public unlisted companies, not for profit associations, foreign companies and Limited Liability Partnership (LLP).

During the month 66 foreign users completed registration from overseas.

Top 5 sectors in the month of January 2021 include the trading sector with 314 incorporation, information technology with 269, construction 227, services and allied 188, and E-commerce with 79, while 1124 companies were registered in other sectors.

Foreign investment has been reported in 44 new companies, from, China, Malaysia, Sweden, South Africa, Norway, Netherlands, Turkey, the UK and the US.

The highest numbers of companies were registered at Business Center Islamabad, followed by 623 and 319 companies registered in CRO Lahore and Karachi respectively.

The CROs in Peshawar, Multan, Faisalabad, Gilgit-Baltistan, Quetta, and Sukkur registered, 156, 122, 56, 53, 22 and 13 companies respectively.