HomeBusinessInvestors from war-torn Ukraine and Afghanistan invest in Pakistani business MIGMG News

Investors from war-torn Ukraine and Afghanistan invest in Pakistani business MIGMG News

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You may face an existential crisis in the war with Russia, but Ukraine or people living in Ukraine continue to invest abroad, including Pakistan.

In a report released on Saturday by the Securities and Exchange Commission of Pakistan (SECP), the main body that registers new companies and regulates existing companies said it registered as many as 2,345 new companies in April 2022, up 7% over the same period last year. In March 2022, SECP registered 2,354 new companies, including 53 new companies.

With the addition of these companies, the total number of companies registered in Pakistan has swelled to 168,030 companies.

The total capitalization (paid capital) of the newly incorporated companies in April was Rs 3.1 billion.

The Securities and Exchange Commission said foreign investments were reported in 63 new companies. These companies received foreign investment from 19 countries including Austria, Azerbaijan, Canada, China, Denmark, Dominican Republic, Germany, Ireland, Jordan, South Korea, Philippines, Saudi Arabia, South Africa, Turkey, UAE, UK and USA.

Investment has also come from war-torn countries including Afghanistan and Ukraine.

The authority added that among the new companies registered in the country during the month of April, companies registered in the real estate development and construction sector took the lead, with 434 companies established.

Information technology came in second place, with 355 companies established in this sector, and trade ranked third with 285 companies.

Other sectors in which companies have been merged include services with 195, food and beverages with 93, e-commerce with 88, education with 81, tourism with 75, marketing and advertising with 64, corporate agro-agriculture with 60, engineering with 59, healthcare with 50, Pharmaceuticals with 48, textiles with 45, chemicals with 44, logging with 40, mining and quarrying with 39, communication with 31, transportation with 31.

The Automotive, Allied and Power Generation sectors each had 26 registered companies. About 22 companies were registered as cables, electrical goods, fuel and energy with 17 companies, broadcasting and television with 16, paper and paper with 16 companies, cosmetics and beauty products with 15 companies, arts and culture with 14, while 76 companies were registered in other sectors.

In April, about 65% of companies were registered as private limited companies, while 33% were registered as single-member companies. Another two percent were registered as unlisted public companies, not-for-profit associations, foreign companies and limited liability partnerships (LLPs).

About 99.8% of the companies are registered online and 0.02% of the companies are registered offline, while 175 foreign users are registered from abroad.

As a result of the SECP’s integration with the FBR and various county administrations, 2,252 companies are registered with FBR to generate National Tax Numbers (NTN), 58 companies are registered with the Old Age Employee Benefit Corporation (EOBI), and two are companies with PESSI/CC.

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