The Securities and Exchange Commission of Pakistan (SECP) registered 920 companies in the first quarter (July-September) of the current financial year 2006-07. According to data issued by SECP on Tuesday, the new monthly incorporations were 347 in July, 309 in August and 264 in September.
Lahore Company Registration Office (CRO) registered greatest number of companies - 324. Karachi CRO registered 285 and Islamabad CRO registered 211 companies. The CROs at Peshawar, Faisalabad, Multan, Quetta and Sukkur registered 42, 28, 17, 9 and 4 companies, respectively.
According to data, out of total 920 companies, 898 were limited by shares - comprising 21 public unlisted companies, 840 private companies, and 37 single-member companies. The SECP also registered 11 foreign companies - nine not-for-profit associations and two companies limited by guarantee.
Total authorised capital and paid up capital of the companies limited by shares amounted to Rs 50,881.55 million and Rs 2,102.37 million, respectively.
As per SECP figures, the services sector recorded 161 new incorporations, followed by 121 in trading, 64 in information technology, 59 in communication, 50 in fuel and energy, 49 in the real estate development, 38 in construction and 37 in textile sector.
The SECP encourages and facilitates corporatisation of all businesses so that the corporate sector can contribute towards the economic development of the country.