Securities and Exchange Commission of Pakistan (SECP) with the support of Special Investment Facilitation Council (SIFC) registered 2,617 new companies which are six percent higher as compared to FY-2023 in Pakistan, reported 24NewsHD TV channel on Tuesday.
According to details, now total number of companies which are operating in the country reached to 231,111.
Registration of new companies put a positive impact on economic stability of the country which also played important role for public service, progress in basic structure of health, education and other development programmes.
Around 55 percent new companied owned by private sector, 41 by single person and remaining 4 percent are un-registered, non-profitable companies, and trade organizations, and limited partnership companies.
It is important to mention here that around 99.8 percent companies registered through online which is clear example of SECP digitalization.
377 new companies registered for trade, 306 for services while 237 new companies registered for real estate sector. 125 new companies established for e-commerce while 112 companies will manufacture foods and drinks.
101 newly registered companies will provide education while 49 new companies registered for health and textile sectors which are pillars of Pakistan’s economy.
61 new companies registered through foreign investment from which 43 new companies are established with the collaboration of Chinese companies.
These new companies will play vital role in strengthening production of local goods through which imports will be decreased and trade deficit will also be reduced.
Due to outstanding performance showed by SIFC to strengthen national economy marginable increase witnessed in the registration of new companies.