The Securities and Exchange Commission of Pakistan (SECP) has approved around 41,000 new companies’ names during 2021-22 under the digital reforms.

According to a tweet of the SECP on Thursday, to increase corporatization and promote ease of doing business (EoDB), SECP approved around 41,000 company names during FY2021-22 and registered 26,483 companies.

To increase corporatization & promote EoDB, SECP has approved around 41,000 company names during FY2021-22. As a result of digital reforms introduced by the SECP, around 99.9 percent applications have been filed and disposed off digitally. pic.twitter.com/M3mmdElgRj

— SEC Pakistan (@SECPakistan) July 7, 2022

As a result of digital reforms introduced by the SECP, around 99.9 percent of applications have been filed and disposed of digitally, SECP added.

The sectoral distribution of new companies registered during 2021-22 revealed that 4,791 companies have been registered within the category of real estate development and construction sector.

Within the category of IT, 3,760 companies have been registered. A total of 3,534 companies have been registered with the category of trading companies. Within the services sector, a total of 2,408 companies have been registered during this period. Around 1,038 e-commerce companies have been registered, data added. A total of 962 companies have been registered in the area of education.

Source: Pro Pakistan