SECP Registered 4,791 Real Estate and Construction Companies in FY22

Over 26,000 companies registered with the Securities & Exchange Commission of Pakistan (SECP) during the fiscal year (FY22), with the highest number of companies from the construction and real estate sector. According to SECP’s Annual Report 2022, the construction and real estate sector took the lead with the incorporation of 4,791 companies. This was followed by IT with 3,760 companies, trading with 3,534, services with 2,408, and e-commerce with 1,038 companies. ALSO READ SECP Directs Directors of Listed Companies to Maintain Proper Financial Statements Education-related companies that registered with SECP stood at 962, food and beverages at 937, tourism at 790, textile at 701, and marketing and advertisement companies stood at 671. The remaining companies were registered in other sectors. During FY22, 26,502 new companies were registered corresponding to a growth rate of 4 percent compared to the previous year. Due to this growth, the total number of registered companies reached 172,234. In terms of efficiency, 99.4 percent of companies were registered online and around 23 percent of companies were registered within the same day. The outcome is the result of the strategic use of automation and process optimization to benefit end users and shorten the overall time required to launch a business in Pakistan. ALSO READ SECP Issues Revised Fee Structure For Different Companies Out of the companies registered during FY22, approximately 64 percent companies were registered as private limited companies, 33 percent as single-member companies, and the remaining were registered either, as public unlisted, not-for-profit associations, trade organizations, foreign companies, or limited liability partnerships. Foreign investment was reported in 681 new companies. Most foreign investments were from China (288 companies), followed by the US (44 companies), UK (42 companies), Afghanistan (40 companies), Germany (27 companies), Canada (15 companies), South Korea (14 companies), Turkey (14 companies), Saudi Arabia (13 companies), Palestine (11 companies), Netherlands (10 companies), Australia (8 companies), Norway (8 companies), and Singapore (8 companies). The post SECP Registered 4,791 Real Estate and Construction Companies in FY22 appeared first on .
http://dlvr.it/SdY23k