Islamabad: The Securities and Exchange Commission of Pakistan (SECP) registered 773 new companies during June this year, according to a news report. The total number of registered companies has increased to 87,622.
This increase can be attributed to a number of new reforms introduced by the SECP and the introduction of simplified combined process for name reservation and incorporation. Of the total, 77% were registered as private limited companies, whereas 21% have been registered as single-member companies. Lastly, 2% are registered as public unlisted, non-profit associations, foreign companies and limited liability partnerships (LLPs).
Of all, the service sector has taken the lead with the incorporation of 113 companies. Foreign investment is reported in 39 countries. The highest number of companies are registered in Lahore, Islamabad, and Karachi, respectively.
