SECP registers over 400 new IT companies in Pakistan in one month

The Securities and Exchange Commission of Pakistan (SECP) registered 2,617 new companies in September 2024, marking a 5.7 per cent increase compared to the same month last year.

This brings the total number of registered companies in Pakistan to 231,111.

Of the companies registered in September, 55 per cent were private limited companies, while 41 per cent were single-member companies. The remaining 4 per cent included public unlisted companies, not-for-profit associations, trade organizations (TO), and limited liability partnerships (LLP).

The majority of these companies—99.8 per cent—were registered online, with only 0.2 per cent registered offline.

The information technology sector saw the highest number of new companies, with 410 being incorporated in September. Following closely were trading companies with 377 new firms and the services sector, which registered 306 companies.

Other key sectors included:

– Real estate development and construction: 237 new companies

– Tourism and e-commerce: 125 new companies each

– Food and beverages: 112 new companies

– Education: 101 new companies

– Mining and quarrying: 98 new companies

– Marketing and advertising: 73 new companies

Additional sectors that showed notable activity included:

– Corporate agricultural farming: 60 new companies

– Engineering: 57 new companies

– Healthcare: 49 new companies

– Textile: 49 new companies

Smaller sectors, such as cosmetics and toiletries (46 companies), chemicals (42 companies), and transport (39 companies), also contributed to the overall growth, with a total of 82 companies incorporated in various other sectors.

With over 400 new IT companies registered in Pakistan in just one month, the benefits are immense. This growth means more job opportunities, driving employment and boosting economic activity and innovation across the country.

The rise of these IT firms also enhances Pakistan’s tech exports, bringing in much-needed foreign revenue and attracting international investments. On top of that, it helps improve digital infrastructure, inspires more people to start their own businesses, and boosts the skills of the local workforce.