SECP registers 613 companies in August
The Securities and Exchange Commission of Pakistan (SECP) during the month of August registered 613 new companies, showing an increase of 51 percent as compared to the same month of the preceding year. A growing trend in company incorporation is the direct result of numerous facilitation measures taken by the SECP.
Around 90 percent companies were registered as private limited companies, while around 6 percent were registered as single-member companies. Four percent of companies were registered as public unlisted, non-profit associations, trade organizations and foreign companies.
The trading sector took the lead with the incorporation 88 of companies, followed by services with 77, information technology with 61, construction with 59. Tourism with 48, fuel and energy with 25, food and beverages with 22, real estate development with 21, education with 17, textile with 15, engineering with 14, corporate agricultural farming, communications, pharmaceutical and broadcasting and telecasting with 13 each, transport with 12, power generation and auto and allied with 11 each, lodging with 10 and 70 companies were registered in other sectors. Moreover, 7 foreign companies were also registered by the CRO in Islamabad and Lahore.
Foreign investment has been reported in 42 new companies. These companies have foreign investors from, Afghanistan, Australia, China, Germany, Iran, Japan, Kuwait, Kyrgyzstan, the Netherlands, Singapore, Thailand, Turkey, the UAE, the UK and the US. These companies are from sectors of auto and allied construction, corporate agricultural farming, education, engineering, food and beverages, footwear, fuel and energy, information technology, lodging, power generation, services, transport and trading sectors. During the month, the highest number of companies, i.e. 204, were registered at the Company Registration Office (CRO), Islamabad, followed by 186 and 121 companies registered at CRO Lahore and Karachi respectively. The CROs in Peshawar, Multan, Faisalabad, Quetta and Sukkur registered 42, 29, 18, 8 and 5 companies respectively.
Source: Pakistan Observer