1,525 new companies registered in July 2019

ISLAMABAD, August 21, 2019:  In July, the Securities and Exchange Commission of Pakistan (SECP) registered 1,525 new companies. As compared to the corresponding month of last financial year, it represents a growth of 41 percent raising the number of total registered companies to 1,02,864. The massive increase is the result of series of recent reform measures undertaken by the SECP.

Around 71 percent companies were registered as private limited companies, while around 25 percent were registered as single member companies. Four percent were registered as public unlisted companies, not for profit associations, foreign companies and Limited Liability Partnership (LLP) whereas 96 % of these companies were registered by using online facility including applications received from overseas subscribers through eService and around 49 % of these companies were registered on same day. The SECP has also upgraded its browser’s compatibility and now in addition to Internet Explorer, other browsers like Google Chrome, Mozilla Firefox and Microsoft Edge, Safari and Opera can be used for name reservation and company incorporation process.