Many new companies have been incorporated in 2021 leading to a positive Economic Outlook

February 9,2021: How many new companies have been incorporated in 2021?

BaaghiTV: The registration rate of new companies has increased by 24% in the business center of SECP Islamabad. The newly established Business Center Islamabad of the Securities and Exchange Commission of Pakistan (SECP) has recorded a 24 per cent increase in the registration rate of new companies. The SECP Business Center registered 837 new companies during January 2021.

SECP officials say a total of 2,101 new companies have been registered across the country during January 2021. The purpose of the new SECP office in Islamabad is to expedite the processing of applications for incorporation of companies. The establishment of the office aims to improve the overall user experience in Pakistan with a view to facilitating business in Pakistan.

With 2201 new companies registered with the SECP during January, the total number of registered companies has reached 134747. Of the new incorporations, 98% of the companies were registered online and 30% of the applications were completed on the same day. About 69% of the companies were registered as private limited while 28% of the companies were registered as single members. 3% of companies were registered as public unlisted companies or non-profit associations, foreign companies and Limited Liability Partnerships (LLPs).

The sectors with the highest number of companies registered in January 2021 included 314 incorporations in the trading sector, 269 information technology companies, 227 construction companies, 188 services and allied companies and 79 e-commerce companies. While 1124 companies were registered in other sectors.

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