Construction and real estate attract highest number of companies
Islamabad attracted the highest number of new companies at 810, closely followed by Lahore with 807 in the month of June. Karachi, the most populous city of the country, could attract only 394 companies, according to the data shared by the Securities and Exchange Commission of Pakistan.
Peshawar, Multan, Faisalabad, Gilgit-Baltistan, Quetta and Sukkur registered 174, 127, 98, 62, 22, and 10 ventures, respectively.
According to the SECP, 2,504 new companies were registered throughout the country in June, showing a 63% rise as compared to June 2020.
The number of registered companies in Pakistan have increased to 145,913.
The SECP said that 99% companies were registered online and 45% applicants were issued registration certificates the same day, whereas 203 new foreign users were registered from overseas.
The total capitalization (paid-up capital) of newly incorporated companies in June amounts to Rs3.3 billion.
Construction and real estate sector took the lead with the incorporation of 474 business ventures. The government has been focused on the sector and wants to stir economic growth through it. The increase in construction activity has boosted cement sales to a historic high.
Construction and real estate sector was followed by trading with 382 companies, IT with 275, services with 216, e-commerce with 129, food and beverages with 105, textile with 86, corporate agricultural farming with 76, and education with 66.
Engineering and market and development 54 companies each, pharmaceutical with 50, healthcare with 45, tourism with 39, mining & quarrying, and transport with 36 each, chemical with 34, and auto and allied industries with 33 companies.
Foreign investment has been reported in 66 new companies. These companies have foreign investors from Austria, Azerbaijan, Bangladesh, China, France, Germany, Ghana, Hong Kong, Iran, Italy, Kyrgyzstan, Malawi, Mexico, the Netherlands, Nigeria, Oman, Philippines, Qatar, Russia, Singapore, Slovakia Republic, Sweden, Syria, Turkey, the UK, Uruguay and the US.