Pakistan Sees Surge in IT Sector Registrations with 27,542 New Companies Registered Last Year

Islamabad, July 27, 2024 – The Securities and Exchange Commission of Pakistan (SECP) reported a significant rise in new company registrations for the financial year 2023-24, totaling 27,542, marking a notable increase in the country’s business landscape. Of these registrations, the majority are linked to the information technology sector, reflecting Pakistan’s growing focus on digital innovation.
Private limited companies accounted for 58% of the new registrations, while sole proprietorships constituted 39%. Remarkably, nearly 99.8% of these companies chose online registration processes, highlighting a trend towards digital efficiency in business operations.
Information technology led the sectors with the highest number of registrations, totaling 4,129 companies. Following closely were trading with 3,666 companies, and real estate development and construction with 3,302 companies. Other notable sectors included services (2,992), tourism (1,346), education (1,177), and food and beverages (1,103).
The SECP also noted foreign participation in Pakistan’s business sector, with 68 companies having foreign stakes and 31 foreign companies establishing offices in the country. Investors from China, Afghanistan, the United States, the United Kingdom, Germany, the United Arab Emirates, Australia, and Turkey were among those participating in these ventures.
The surge in registrations across diverse sectors underscores Pakistan’s growing attractiveness as a destination for business and investment, particularly in technology-driven fields. As the country continues to streamline its regulatory processes and foster a conducive business environment, further growth in entrepreneurial activities is anticipated in the coming years.