SECP registers 454 new companies in February

The Securities and Exchange Commission of Pakistan (SECP) registered 454 new companies during the month of February, new incorporation witnessed five percent increase as compare to same period last year and indicating investors' confidence. Around 91 percent companies were registered as private limited companies, while around six percent companies registered as single member companies. Three percent of the companies were registered as public unlisted, associations' not-for-profit and foreign companies.
The Services sector took the lead with the incorporation of 58 companies, followed by trading with 50, information technology with 39, construction and tourism with 35 each, fuel and energy with 18, broadcasting and telecasting and corporate agricultural farming with 17 each, education with 16, food and beverages with 12, communication, engineering, real estate development and transport with 11 each and textile with 10 companies. Moreover, five foreign companies were also registered by CROs in Lahore, Islamabad and Faisalabad.
Foreign investment has been reported in 14 new companies. These companies have foreign investors from Belarus, China, Germany, Italy, South Africa, Spain, Sweden, Turkey, UK and the US. These companies are from import/export, lodging, construction, information technology, engineering, mining and quarrying, paper and board, power generation and textile sectors.
During February, the highest numbers of companies, ie 141, were registered at the Company Registration Office (CRO) Karachi, followed by 131 and 102 companies registered at CRO Lahore and CRO Islamabad respectively. The CROs in Multan, Faisalabad, Peshawar, Quetta and Sukkur registered 31, 19, 18, 7 and five companies respectively.
In February, returns for an increase in the authorised capital of 127 companies were filed, with the total authorised capital increment of 17.99 billion rupees. In addition, 90 companies filed returns for increase in the paid-up capital with the total increment amounting to 4.90 billion rupees.-PR