SECP registered 366 new companies in June

SECP registered 366 new companies in June

ISLAMABAD, July 4: The Securities and Exchange Commission of Pakistan (SECP) registered 366 new limited liability companies in June, bringing the total corporate portfolio to 61,990 companies.

In the corresponding month, last year, 364 companies were registered.  The SECP continued its efforts to promote corporatization in the country, through various seminars with all stakeholders, awareness campaigns and facilitation extended including provision of fast track registration services.

Around 87% companies registered as private limited companies, while around 7% companies registered as single member companies. Around 3% companies have been registered as associations under Section 42 of Companies Ordinance, 1984, 2% companies registered as public limited companies, and 1 % as foreign companies, during the month.

The trading and services sectors have again taken the lead in new registrations with the incorporation of 46 and 45 new companies, respectively, followed by I.T. with 33 companies, tourism with 31, construction and corporate agricultural farming with 18 companies each, communications with 16, education with 14 and textile with 12 companies.

Foreign investment has been witnessed in 13 new companies. These companies have foreign investors from Iraq, UK, US, Panama, UAE, Jordan, Germany, Spain, Bulgaria, China and Denmark. It is pertinent to mention that the SECP introduced fast track provisional registration of companies having foreign directorship with the aim to facilitate foreign investment in Pakistan.

During the month of June most number of companies, i.e., 120, were registered at the Company Registration Office (CRO), Islamabad, followed by CROs in Lahore and Karachi, registering 117 and 80 companies, respectively. The Multan and Peshawar CROs registered 22 and 15 companies respectively, while the CROs in Quetta and Faisalabad registered 6 companies each.

During the month, returns for increase in the authorized capital of 198 companies were accepted, with the total authorized capital increment of Rs16.03 billion. In addition, 121 companies filed returns for increase in the paid-up capital with the total enhancement amounting to Rs17.19 billion.