The Securities and Exchange Commission of Pakistan (SECP) has approved around 41,000 new companies’ names during 2021-22 under the digital reforms.
The SECP approved over 41,000 company names and registered 26,483 firms during FY2021–22 in order to improve ease of doing business (EoDB) and increase corporatization, according to a tweet from the SECP on Thursday.
Around 99.9% of applications have been filed and resolved digitally as a result of the SECP’s digital reforms, the SECP stated.
In the area of real estate development and construction, 4,791 new firms were registered during the 2021–2022 period, according to the sectoral distribution of these companies.
There are 3,760 companies registered in the IT sector. 3,534 businesses have been registered under the heading of trading companies. A total of 2,408 businesses have been registered in the services sector during this time. According to new data, 1,038 e-commerce businesses have been registered. In the field of education, 962 businesses have been registered.