SECP records highest-ever monthly company registrations in July 2024

WEB DESK: The Securities and Exchange Commission of Pakistan (SECP) announced today that 2,864 new companies were registered in July 2024, setting a new monthly record.

This represents a 25 per cent increase compared to the same month last year, bringing the total number of registered companies to 225,561.

In July, private limited companies comprised approximately 58 per cent of the new registrations. Single-member companies accounted for 39 per cent, with the remainder classified as public unlisted companies, not-for-profit associations, trade organisations, and limited liability partnerships.

Notably, 99.8 per cent of these registrations were completed online.

The IT sector led the way with the formation of 471 companies, followed by trading with 364, and services with 362. Other significant sectors included real estate development and construction with 284 companies, tourism with 164, and food and beverages with 139.

Notable contributions also came from ecommerce (120 companies), education (111), and textile (65).

Sectors like marketing and advertisement, corporate agricultural farming, chemicals, healthcare, and power generation each saw significant numbers of new companies, while smaller sectors like arts and culture, logging, and sports-allied saw fewer registrations.

Foreign investment was a key highlight, with 86 new companies attracting international funding from countries including Afghanistan, Antigua and Barbuda, Australia, Azerbaijan, Canada, China, Germany, Greece, Iraq, Italy, the Netherlands, Poland, Qatar, Russia, Sri Lanka, Turkey, the UK, the US, and Zambia.

China was the largest investor, contributing to 64 companies, while Turkey invested in 3, and Afghanistan and the UK each contributed to 2 companies. The remaining countries each invested in one company.

This surge in registrations underscores a vibrant and expanding business landscape in Pakistan, bolstered by significant international interest and a diverse range of new business ventures.

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