The Securities and Exchange Commission of Pakistan (SECP) has shattered records with an unprecedented 2,933 new company registrations in August 2024, marking a 3% increase from the corresponding month last year. This remarkable achievement not only highlights the SECP’s efforts to facilitate entrepreneurship and economic growth but also underscores Pakistan’s thriving business landscape.
The SECP’s record-breaking registrations are a testament to the country’s growing appeal as a business destination. With a total of 228,494 companies now registered with the SECP, Pakistan is rapidly emerging as a hub of entrepreneurship and innovation. The majority of these new companies (56%) have opted for private limited company status, followed by single-member companies (41%), and a small percentage of public unlisted companies, not-for-profit associations, and limited liability partnerships.
The information technology sector has taken the lead with 431 new registrations, followed closely by trading (401), services (367), and real estate development & construction (269). Other sectors, such as tourism, e-commerce, food & beverages, education, and marketing & advertisement, have also seen significant growth. This diversification of industries is a positive sign for Pakistan’s economy, indicating a shift towards a more knowledge-based and service-oriented economy.
Foreign investment has also played a significant role in Pakistan’s business landscape, with 63 new companies reporting foreign investment in August 2024. China has led the way with 45 companies, followed by Afghanistan and Malaysia with 4 each, and Germany with 3. This influx of foreign investment is a testament to Pakistan’s growing appeal as a business destination and its potential for economic growth.
The SECP’s efforts to streamline the registration process have also contributed to the record-breaking registrations. With 99.8% of companies registered online, the SECP has made it easier for entrepreneurs to start and grow their businesses. This ease of doing business has been a key factor in Pakistan’s improving business environment, with the country jumping 39 places in the World Bank’s Ease of Doing Business Index 2020.
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