SECP registers 3,923 companies in 2011-12

During the financial year 2011-12, the SECP registered 3,923 companies as compared to 3,400 companies registered during last financial year, showing a 15 percent increase.
Out of these 3,923 companies, 3,571 were private, 237 single-member, 38 public unlisted, 31 foreign companies and 41 non-profit associations, 4 trade organisations and one company limited by guarantee under Section 43 of the 1984 Companies Ordinance.
In June 2012, 364 companies were registered. They include 325 private companies followed by 23 single-member companies, 5 public unlisted companies, 6 non-profit associations and 5 foreign companies.
As of June 30, 2012, the total number of companies reached 62,343, and an increase of 5 percent has been witnessed as compared to the total number of 59,451 companies as of June 30, 2011. The corporate growth is a positive sign and reflects expansion of documented, formal and structured corporate sector which results into more business opportunities and development of the economy.
The increasing trend in registration of companies has been made possible due to the SECP's pro-registration facilitation mechanism. eServices and fast-track registration services have also facilitated the company registration process. Almost 60 percent of new registration is taking place using online services.
The total authorized capital and paid-up capital of the companies registered during the preceding financial year, amounted to Rs 103.4 billion and Rs 11.91 billion, respectively. During the financial year, 1,990 companies increased their authorized capital with the aggregate authorized capital increment of Rs 131.44 billion and 1,198 companies raised their paid-up capital with the total paid-up capital increment amounting to Rs 217.38 billion.
The highest number of company incorporation took place in the trading sector comprising of 501 companies, followed by 472 in services, 409 in Hajj and Umrah services, 260 in IT, 225 in construction, 170 in communication, 161 in food and beverages, 138 in tourism, 117 in textile and 100 in transport.
The SECP has a vision of promoting corporatisation of businesses so that these can better contribute to progressive development of the economy.-PR