Pakistan sets new record for company registrations in April

The month of April became a memorable month in the business history of Pakistan. According to the data released by SECP, 4082 new companies were registered in this month, which is the highest monthly record ever. Now the number of registered companies across the country has reached 294,101.

On the last day of the month, i.e. April 30, another miracle happened when 340 companies were registered in just one day, this is also a new record of its kind.

Not only domestic investors but foreign investors from 22 countries also showed interest in starting businesses in Pakistan. China was the most prominent in this matter, from where 95 shareholders registered companies and their total capital was Rs 193 million.

Talking about the provinces, Punjab topped the list with 2093 companies, the details of the remaining provinces were as follows:

• Islamabad: 719 companies
• Sindh: 600 companies
• Khyber Pakhtunkhwa: 325 companies
• Gilgit Baltistan: 276 companies
• Balochistan: 69 companies

In terms of the nature of business, the IT and e-commerce sector was at the forefront with 832 companies, which reflects that the younger generation is rapidly moving towards technology. The situation of other sectors was as follows:

• Trading: 757 companies
• Services: 490 companies
• Real Estate and Construction: 358 companies
• Tourism: 242 companies
• Food and Beverages: 158 companies
• Education: 127 companies
• Textile: 105 companies

SECP Chairman Dr. Kabir Siddhu termed these figures as positive, saying that it shows that people are now leaving informal businesses and becoming part of the formal economy, which is a good sign for the country.