Pakistan SECP registers 1290 companies with IT and tourism at the top

Pakistan SECP registers 1290 companies with IT and tourism at the top

The trading and construction sectors dominate the business landscape in Pakistan. But the IT and tourism sectors maintained their position in the top five with a high number of new companies registering in the sectors, according to the data Securities and Exchange Commission of Pakistan released on Wednesday.

According to the SECP, 1,290 new companies registered in February, which is an increase of 26% from last year’s registrations in the same month. This raised the total number of registered companies to 96,510.

The notable increase was the result of reforms the SECP introduced to simplify the registration process, including a one-window facility for company incorporation and NTN generation and a reduction of fee to name a few.

The trading sector took the lead with the incorporation of 195 companies, construction came second with 166 new registration, services third at 148,  IT fourth at 139 and tourism fifth at 119 registrations.

The food and beverages sector enjoyed 60 new registrations while 50 companies registered for the real estate development sector, 45 for the corporate agricultural farming,  32 for education, 27 each for chemical,  marketing and advertisement, 24 each for engineering, and fuel and energy, 23 for pharmaceutical, 21 for textile and 20 each for healthcare, and mining and quarrying. As many as 15 new companies registered for the communication sector.

Foreign investment has been reported in 39 new companies. These companies have foreign investors from Argentina, China, Denmark, Germany, Jordan, Kenya, Korea South, Portugal, Russia, Singapore, Sweden and the US.

The highest numbers of companies, ie 468 were registered in Islamabad, followed by 322 and 240 companies registered in Lahore and Karachi respectively.