SECP records 107pc YoY surge in company registration in May

KARACHI: The Security and Exchange Commission of Pakistan (SECP) has Friday released its monthly numbers for May of new companies registering their business noting 107 per cent increase year-on-year with 1597 new companies commencing officially nationwide, ARY News reported.

Compared to the same month of the preceding year, this May recorded 107 pc surge in companies getting registered by the financial and business regulator SECP.

With May numbers as per SECP report, out of which 99 pc of registrations were carried out online, total registered companies in Pakistan jump to total 143,416.

Also, the companies getting registered in May were mostly from the construction sector, 252 in total, followed by trading companies standing at 247 registrations.

Companies belonging to the information technology sector stood at 216 while those of the service sector followed at fourth with 149 companies.

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SECP report also published foreign investment numbers in the registered companies noting 48 of the newly registered companies received investments from abroad.

In its national breakup, it said out of 1,597 new ventures registered in May, 519 belong to Islamabad followed by 513 of Lahore and 250 in Karachi.

Peshawar remained at fourth spot with 116 companies.