16,929 new companies registered in FY2020: SECP report

According to an annual report by the Securities and Exchange Commission of Pakistan, 16,929 new companies have been registered in the fiscal year 2020, 17 percent more than the previous year.

This brings the overall total number of registered companies in Pakistan to 120,395. Private limited companies make up about 71 percent of the total number registered, with a further 26 percent registered as single-member firms. Non-profits, multinationals, trade organizations, limited liability partnerships and publicly listed companies make up the remaining 3 percent of the tally.

Trading, IT, Services, and Construction were the most popular sectors to register a company with each contributing triple figures. Tourism, Real Estate, Food and Beverage, and Education also proved to be very popular. Interestingly, 550 companies registered reported foreign investment, with a further 27 foreign companies establishing their roots in Pakistan over the past year.

The SECP also renewed the licenses of 45 not-for-profit organizations. 30 non-profit licenses were rejected due to non-compliance with SECP guidelines.

The commission uses annual returns from beneficiaries of listed companies to monitor trade activities in the country. The report revealed that the 1,737 annual returns from listed company beneficiaries were filed with the SECP in 2020.