The Securities and Exchange Commission of Pakistan (SECP) has registered 836 companies including eight foreign entities during the last quarter (October-December) 2007-2008. According to an SECP announcement on Tuesday, a total of 4,841 companies have been registered in 2007 against 942 companies in 1999.
The total corporate portfolio as on December 31, 2007 reached 50,847 registered companies. The new incorporation during the months of October, November and December, 2007 were 233, 348 and 255 companies, respectively. Of the 836 companies registered during the quarter, 819 were limited by shares, comprising of 22 public unlisted companies, 761 private companies and 36 single member companies.
In addition, 8 foreign companies and 9 associations not-for-profit were also registered. The SECP said that the total authorised capital and paid-up capital of the 836 companies limited by shares registered during the quarter amounted to Rs 8.25 billion and Rs 2.18 billion respectively.
Company Registration Office (CRO) Lahore incorporated 299 companies, CRO Karachi 238 companies and CRO Islamabad registered 191 companies. CRO Multan, Faisalabad, Peshawar, Quetta, and Sukkur registered 36, 30, 29, 11 and 2 companies, respectively.
The highest number of company incorporation was witnessed in the services sector comprising 147 companies, followed by 116 in trading sector, 62 in tourism sector, 56 each in construction and communication sectors, 42 in information technology, 35 in broadcasting and telecasting, and 30 in textile sector.
The SECP encourages the corporatisation of businesses to contribute towards the progressive development of the economy and healthy growth of corporate sector of the country, the commission added.