SECP registered 8,286 new companies in 2017

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 8,286 new companies last year, showing a growth of 34 percent as compared to the registration of the last financial year.

According to the annual report 2017 released by the commission, this has raised the total number of registered companies to 80,700. The trend witnessed in formation of companies was that approximately 86 percent companies were registered as private limited companies, 11 percent as single-member companies and, three percent were registered as public unlisted, association’s not-for-profit, trade organisations and foreign companies.

The services sector took a lead with the incorporation of 1,303 companies, followed by trading 1,100, construction 936, information technology 773, tourism 518, education 254, food and beverages 252, engineering 225, real estate development 224, fuel and energy 211, corporate agricultural farming 190, textile 173, pharmaceutical and transport 166 each, communication 158, auto and allied 137, power generation 123, healthcare 121, broadcasting and telecasting 103, paper and board 101, and 1,052 companies were registered in other sectors.

Foreign investment was reported in 562 new companies. These companies have foreign investors from Afghanistan, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Belgium, Canada, Cayman Islands, China, Cyprus, Denmark, Egypt, France, Germany, Iran, Iraq, Ireland, Italy, Japan, Jordan, Kazakhstan, South Korea, Kuwait, Kyrgyzstan, Lebanon, Libya, Malaysia, The Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Oman, Panama, the Philippines, Puerto Rico, Qatar, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sri Lanka, Sudan, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, the UAE, the UK and the US, the report added.

Moreover, 63 foreign companies from China, Finland, Germany, Hong Kong, South Korea, Malaysia, The Netherlands, Norway, Singapore, Spain, Sweden, Switzerland, Turkey, the UAE, the UK and the US have established places of business in Pakistan during the last fiscal year.

Meanwhile, the report said these companies are engaged in the fields of auto and allied, cable and electric goods, communication, construction, engineering, food and beverages, healthcare, services, power generation, trading, textile, transport, fuel and energy, information technology, insurance, steel and allied and other sectors.