During the current fiscal year (FY) 2021-22, the Securities and Exchange Commission of Pakistan (SECP) has registered a whopping 4,791 new real estate development and management firms.
The figure is higher than any previous year over the previous decade, indicating rapid growth in the construction and real estate industries. According to the report, 26,502 new firms were established during FY-22, a 4% increase over the previous year. As a result of this growth, the total number of registered firms now stands at 172,234.
The report also highlighted the number of new business entities registered during the same time period:
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- 3,760 information technology firms
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- 3,534 trading firms
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- 2,408 services-related forms
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- 1,038 e-commerce companies
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- 962 education-related companies
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- 937 food and beverages
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- 790 tourism companies
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- 701 textile firms
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- 671 marketing and advertising companies
Regarding SECP registration portal efficiency, more than 99.4% of firms were registered online, with more than 23% registered on the same day. Furthermore, 64% of businesses were registered as private limited companies, 33% as sole proprietorships, and the rest as public unlisted, not-for-profit groups, trade organisations, foreign corporations, or limited liability partnerships.
According to media reports, SECP Chairman Aamir Khan launched Pakistan’s first Central Digital Distribution Gateway (CDDG) portal for digital asset management last month.