The business of information technology and tourism services providers is one the rise in Pakistan data from the Securities and Exchange Commission of Pakistan shows.
The SECP registered 1,130 new companies in December 2018, which is a 43% increase compared to the corresponding month in the last financial year. With these additions, the total number of registered companies went up to 94,205.
Conventional trading (201), services (136) and construction (116) were among the top sectors, but IT and tourism also showed up among the top five with 138 and 67 new registrations, respectively.
Around 74% registered as private limited companies, while 24% registered as single-member companies. The SECP says 57 new companies reported foreign investment from Canada, China, Greece, Hungary, Japan, Kenya, the Netherlands, New Zealand, Norway, the Philippines, Saudi Arabia, South Africa, Sri Lanka, Sweden, Switzerland, Thailand, Tunisia, the UK, the US and Vietnam.
The highest number of companies, 404 to be precise, was registered in Islamabad followed by 301 and 205 companies in Lahore and Karachi, respectively.