ISLAMABAD: With the registration of 4,954 new companies during the first half of the current fiscal year with the Securities and Exchange Commission of Pakistan (SECP) the number of companies have been increased to 83,879.
According to SECP sources, as compared to last year, there has been 44 percent growth registered in the new companies this year that indicate the growth in the industrial sector of the country.
The details released by the SECP, there has been massive increase in number of new companies due to various reform measures taken by the government and simplification of incorporation procedure, reduction in fee. About 82 percent of companies were registered as private limited companies, while around 16 percent were registered as single-member companies.
The data indicated that two percent of the companies were registered as public listed, non-profit associations, trade organizations and foreign companies. The trading sector took the lead with the incorporation of 783 companies, services with 729, construction with 625, information technology with 599, tourism with 274, food and beverages with 164, engineering with 155, education with 148, corporate agricultural farming with 126, real estate development with 106, transport with 100, pharmaceutical with 86, textile with 77, communication with 76, fuel and energy with 75, auto and allied and healthcare with 71 each, cable and electric goods with 58, broadcasting and telecasting with 57, chemical with 55, power generation with 47, paper and board with 46, mining and quarrying with 45, steel and allied with 38, cement with 9 and 334 companies were registered in other sectors.
These companies have foreign investors from Afghanistan, Australia, Austria, Azerbaijan, Belarus, Belgium, Canada, Cayman Islands, China, Denmark, Egypt, Germany, Greece, Hong Kong, Indonesia, Iran, Ireland, Italy, Jordan, South Korea, Lebanon, Macedonia, Malaysia, Mauritius, Mexico, Netherlands, Nigeria, Norway, Philippines, Poland, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, UAE, the UK, Ukraine and the US.