KARACHI: The Securities and Exchange Commission of Pakistan (SECP) registered nearly 3,500 new companies in the month of Feb., it said on Friday, with China and United States (US) among top foreign investors.
The development comes at a time when Pakistan is seeking to increase foreign direct investment as it treads a long path to economic recovery under a $7 billion International Monetary Fund (IMF) bailout.
The South Asian country has announced several incentives for in its Special Economic Zones (SEZs), including exemption from income tax and sales tax on the import of machinery, to promote foreign investment.
On Tuesday, the SECP said addition of 3,444 new firms brings the total number of registered companies in Pakistan to 287,049, reflecting continued growth in the country’s corporate sector.
“Private limited companies accounted for 59 percent of the new registrations, followed by single-member companies at 38 percent. The remaining 3 percent comprised public unlisted companies, not-for-profit organizations, limited liability partnerships, and foreign companies,” the regulator said.
