SECP registers 27,746 companies in FY23

Islamabad, July 21, 2023: In FY23, SECP registered 27,746 new firms. This is up 5% over the prior fiscal year. 196,805 firms are registered.

99.8% of companies were registered online, and 1,256 international users registered. FY23 new company capitalization was Rs36.6 billion.

Real estate development & construction with 4,527 new incorporations, followed by information technology with 4,038 and trading with 3,539.

SECP data shows services with 2,928 new incorporations, food & beverages with 1,106, tourism with 1,101, education with 1,048, e-commerce with 910, corporate agricultural farming with 732, marketing & advertisement with 672, textile with 634, engineering with 591, pharmaceutical with 468, mining & quarrying with 462, healthcare with 451, power generation with 447, transport with 423, chemical with 402, cosmetics & toiletries with 274, fuel & energy with 272,

SECP has entirely digitised the company registration process and certificate to make it easier. This automation allows corporations to register online from anywhere without visiting SECP offices.

SECP's e-services are integrated with Provincial Revenue Departments to simplify company incorporation registration. Online company tax number issuance.

After SECP was integrated with FBR and several provincial agencies, 26,125 enterprises were registered with FBR for NTN registration, 819 with EOBI, 317 with PESSI/SESSI, and 569 with excise and taxation.

After registration, banks can open corporate accounts through an online portal. For name availability and incorporation questions, the SECP has a WhatsApp service. 14,973 inquiries were answered with 96% satisfaction in FY2023.

Nearly 58% of enterprises were private limited corporations in fiscal year 2023, while 39% were single-member companies. 3% were public unlisted corporations, not-for-profit associations, Trade Organisations, foreign companies, and LLPs.

841 startups received foreign investment. China invested 448 enterprises, the US 46, the UK 36, Afghanistan 35, Germany 32, Turkey and South Korea 16 apiece, UAE 15, Singapore 11, Nigeria 10, and other nations 176.