SECP registers 5,001 new companies during 2014-15

The Securities and Exchange Commission of Pakistan (SECP) has registered 5,001 new companies during 2014-15 covering 644 companies in services sector, followed by 583 trading companies, 480 information technology companies and 243 foreign investors. The SECP data revealed that during the period under review, 5,001 new companies were registered. As compared with the corresponding period of last financial year, a growth of nine percent has been witnessed. This has raised the total number of registered companies to 67,624.
The trend witnessed in formation of companies was that approximately 90 percent companies had been registered as private limited companies, six percent were registered as single-member companies, four percent were registered as public unlisted, non-profit associations, under section 43, trade organisations and foreign companies.
The services sector took a lead with the incorporation of 644 companies, followed by trading with 583, information technology with 480, tourism with 401, construction with 338, corporate agricultural farming with 198, education with 168, fuel and energy with 152, power generation with 148, food and beverages with 145, communications with 142, textile with 122, pharmaceutical with 117, real estate development with 115, engineering with 110 companies, broadcasting and telecasting with 107 and 1031 companies in other sectors, SECP said.
Foreign investment has been reported in 243 new companies. These companies have foreign investors from Afghanistan, Australia, Austria, Belarus, Belgium, Bulgaria, Cameron, Canada, China, Denmark, Egypt, France, Germany, Italy, Jamaica, Japan, Jordan, Lebanon, Libya, Macedonia, Mauritius, Morocco, the Netherlands, New Zealand, Nigeria, North Korea, Norway, Oman, Palestine, Panama, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Tanzania, Turkey, Turkmenistan, the UAE, the UK and the US.
Moreover, 42 foreign companies from Australia, Bahrain, China, France, Germany, Hong Kong, Japan, South Korea, the Netherlands, Singapore, Switzerland, Turkey, the UAE, the UK and the US were registered in Pakistan during last fiscal. These companies are mainly engaged in the field of engineering, pharmaceutical, services, power generation, construction, education, trading, chemical, fuel and energy, food and beverages, textile, transport and cable and electric goods, SECP added.