SECP registers 305 companies in August

ISLAMABAD (NNI): The Securities and Exchange Commission of Pakistan (SECP) registered 305 new limited liability companies in August.  In addition, the SECP granted 7 new licenses to non-profit associations.

Around 90% companies registered as private limited companies, while around 7% companies registered as single-member companies. Three percent of the companies have been registered as public limited companies, associations under Section 42 of the 1984 Companies Ordinance and foreign companies.

The services sector took the lead in new registrations with the incorporation of 49 companies, followed by trading with 29, information and technology and tourism with 23 each, corporate agricultural farming with 19, construction with 14, finance and banking with 13, food and beverages with 12 and education with 10 companies.

Foreign investment has been witnessed in 14 new companies. These companies have foreign investors from Afghanistan, Bulgaria, Canada, China, France, Germany, Lebanon, Oman, Panama, Saudi Arabia, Sri Lanka, the UAE and the UK. These companies are from fuel and energy, services, textile, construction, corporate agricultural farming, engineering, food and beverages, information technology, mining and quarrying and power generation sectors.

During the month, highest number of companies, i.e.123, was registered at the Company Registration Office (CRO), Lahore, followed by 77 and 60 companies registered at CRO Karachi and Islamabad respectively. The CROs in Multan, Peshawar, Faisalabad and Quetta registered 22, 10, 9 and 3 companies respectively, while the CRO in Sukkur registered 1 company.

In the month of August, returns for an increase in the authorized capital of 58 companies were accepted, with the total authorized capital increment of Rs10.45 billion. In addition, 66 companies filed returns for increase in the paid-up capital with the total enhancement amounting to Rs7 billion.

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