SECP registers 481 new firms in September

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 481 new companies during the month of September 2016, a statement said on Friday.

Around 87 percent companies were registered as private limited companies, while around 11 percent companies were registered as single member companies. Three percent of the companies were registered as public unlisted associations’ not-for-profit and foreign companies, it said.

The service sector took the lead with the incorporation of 80 companies; followed by trading with 62, information technology with 43, construction with 42, tourism with 29, and food and beverages with 21.

Real estate development with 17, fuel and energy with 16, corporate agricultural farming and pharmaceutical with 13 each, education with 12, textile with 11, power generation and engineering with 10 and 102 companies were registered in other sectors. Moreover, five foreign companies were also registered by the CRO in Islamabad, Lahore and Karachi.

Foreign investment has been reported in 37 new companies. Foreign investors were from Afghanistan, China, France, Germany, Japan, Kyrgyzstan, Lebanon, Malaysia, Singapore, Sri Lanka, Turkey and the UK.

These companies are linked to chemicals, communications, construction, corporate agricultural farming, education, fuel and energy, glass and ceramics, information technology, mining and quarrying, pharmaceutical, power generation, services trading, transport and miscellaneous sectors.

During the month, the highest number of companies ie 75 were registered at the Company Registration Office (CRO) Lahore; followed by 137 and 103 companies registered at CRO Islamabad and Karachi, respectively. The CROs in Faisalabad, Multan, Peshawar and Quetta registered 17, 16, 28 and five companies, respectively.