42 companies in NWFP opt for easy exit scheme

Company registration office of the Securities and Exchange Commission of Pakistan (SECP) has received 42 applications of seizure during the current financial year through easy exit scheme to wind up their businesses.
Talking to Business Recorder, Companies Registrar at the SECP Peshawar, Mudassir Rahim said that 27 such applications had already been accepted and selected for inclusion in the official gazette notification. He said that the remaining is under observation.
He said that the under observation companies are either have incomplete documents, requires some necessary clarification or some have got cases registered against them.
About the incorporation of the new companies, he said that till September 14, 10 more companies have been registered with the office.
The paid-up capital of these companies is Rs 2,699,981, while the authorised capital of these companies is Rs 150,100,100.
"Majority of the newly registered companies are private companies, particularly, ghee manufacturing companies," Mudassir said.
The SECP Peshawar office during the last financial year had registered more than 2,616 companies with a total paid-up capital of Rs 15, 847 million.
Among the incorporated companies 32 were listed companies with a paid-up capital of Rs 5,089 million, 87 unlisted companies with the paid-up capital of Rs 1,995 million and 2,466 private companies with the paid-up capital of Rs 8,763 million.
The company's registrar office in Peshawar last year had also registered 13 associations, three trade organisations, nine foreign companies and four single member companies.
Regarding the submission of any kind of applications regarding the establishment of stock exchange in Peshawar, he said that he did not know about the submission of any formal application with his office.
Similarly, regarding the filing of application for increase in the paid-up capital of Bank of Khyber (BoK), Mudassir said that although the matter relates to his office, he was not confident that either the bank would approach the local office or headquarters in Islamabad.