SECP registers 328 companies in October

The Securities and Exchange Commission of Pakistan (SECP) registered 328 new limited liability companies in October, bringing the total corporate portfolio to 62,862 companies. In the corresponding month, last year, 320 companies were registered. To further increase the corporate growth rate, in addition to awareness campaigns, the SECP is also carrying on a web-based survey on corporatization, placed on www.secp.gov.pk, with the aim to point out impediments in the way.
In addition to registration of companies, the SECP granted licenses to 2 not-for-profit associations. Around 93 percent companies registered as private limited companies, while around 4 percent companies registered as single member companies. About 1 percent of the companies have been registered as public limited companies and as associations under Section 42 of the 1984 Companies Ordinance, each, during the month.
The trading sector took the lead in new registrations with the incorporation of 46 companies, this month, followed by services with 42, tourism with 31, information and technology with 24, corporate agricultural farming with 15, communications with 14, construction with 13, engineering with 12 and education, food and beverages, transport with 11 companies each.
Foreign investment has been witnessed in 19 new companies. These companies have foreign investors from the US, Canada, Somalia, China, Japan, Germany, Afghanistan, the UK, Saudi Arabia, the UAE, Australia and Turkey. These companies are from information technology, services, textile, trading, communications, construction, corporate agricultural farming, education, food and beverages, mining and quarrying and transport sectors.
During the month of October most number of companies, ie, 139, is registered at the Company Registration Office (CRO), Lahore. It is followed by the CROs in Islamabad and Karachi, registering 79 and 68 companies respectively. The Multan and Peshawar CROs registered 15 and 14 companies respectively, while the CROs in Quetta, Faisalabad and Sukkur registered 6, 5 and 2 companies respectively.
During the month returns for increase in the authorised capital of 59 companies were accepted, with the total authorised capital increment of Rs 17.9 billion. In addition, 62 companies filed returns for increase in the paid-up capital with the total enhancement amounting to Rs 13.28 billion.-PR