SECP registered over 2000 new companies during January 2021

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Monday announced registeration over 2,000 companies in the country during the first month of 2021, ARY NEWS reported.

The SECP said that it had registered 2,101 companies in the country during the month of January 2021 and around 98 percent of them are registered through an online process.

“The number of companies registered in January 2021 are 10 percent more than the same month of the previous year,” it said adding that most of the companies were registered in trade sector while 44 companies received foreign investment during the first month of the ongoing year.

The SECP further said that registration of their business centre in Islamabad has also witnessed a 24 percent increase after 837 more companies were registered during January 2021.

“The establishment of business centre is part of the government’ reforms initiative under ease of doing business,” it said.

According to a report in November 2020, advent of new companies in Pakistan saw a 26 per cent jump in the month of October as the securities commission registered 2,701 new entrants with 97 of them registering from abroad.

The Securities & Exchange Commission of Pakistan (SECP) noted among the new companies, 99 pc of them registered themselves online 34pc of all the companies registered in a single day.

The trade sector was the biggest bracket of the newly registered companies according to October data as 341 new competitors enrolled as such. Following the lead is the construction with 245 and I.T with 231 companies, SECP notification said.

According to the regional breakup, most of the companies registered in Islamabad as the capital territory swept in 714 of them while Lahore and Karachi enrolled 611 and 318 companies, in that order.