Karachi: Securities and Exchange Commission of Pakistan (SECP) registered 2,220 new companies in July 2023, 25 percent increase from previous year, press release said. Total capitalisation for companies stood at Rs 3.3 billion. Total number of registered companies in country has now risen to 197,828.

About 57 percent of Pakistan's companies were private limited companies, 41 percent single-member companies and 2 percent not-for-profit associations, trade organisations and limited liability partnerships. SECP registers 27,746 new companies in FY 2022-23

Around 99.7 percent were registered online and three foreign companies established businesses in Pakistan. Up to 86 foreign applicants registered from overseas.

Information technology sector took lead with incorporation of 316 companies, trading with 309, services 260, real estate development and construction 252, food and beverages 96, tourism 91, education 90, corporate agricultural farming 70, ecommerce 64, textile 57, marketing and advertisement 48 and transport with 45.

Similarly, engineering sector registered 42 new companies, followed by healthcare with 41, pharmaceutical 36, mining and quarrying 35, power generation 30, lodging 28, communications 26, chemical 24, cosmetics and toiletries 21, auto and allied and broadcasting and telecasting with 20 each, paper and board with 19, cables and electrical goods 12 and 168 companies were registered in other sectors.