SECP registers 1,125 new companies in March 2018

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,125 new companies in March, raising the number of registered companies to 84,783. As compared to the corresponding month of last year, it represents a growth of 36 percent, a statement said.

The massive increase in number of new companies is the result of various reform measures introduced by the SECP, including the introduction of simplified combined process for name reservation and incorporation, reduction of fee, assistance of incorporation by facilitation wings of CROs etc.

Around 79 percent companies were registered as private limited companies, while around 19 percent companies were registered as single-member companies. Two percent of the companies were registered as public unlisted, association not for profit, and foreign companies.

The services and trading sector took the lead with the incorporation of 172 companies each. Construction and information technology registered 128 each, tourism 58, education and engineering 40 each, food and beverages 36, real estate development 35, corporate agricultural farming 31, healthcare 23, transport 18, auto and allied and communication 16 each, broadcasting and telecasting 14, fuel and energy, mining and quarrying, pharmaceutical and textile 13 each, and power generation registered 11 companies, whereas 135 companies were registered in other sectors.

Moreover, five foreign companies were also registered by the Company Registration Offices (CRO) in Karachi, Lahore and Islamabad. Foreign investment has been reported in 59 new companies. These companies have foreign investors from, Australia, Belgium, Canada, China, Germany, Iran, Jordan, Norway, the Philippines, Russia, Saudi Arabia, Sri Lanka, Syria, Tajikistan, Turkey, the UAE, the UK, and the US.

The highest numbers of companies, ie 407 were registered at the CRO, Islamabad, followed by 312 and 206 companies registered at CRO Lahore and Karachi respectively. The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta, and Sukkur registered 52, 52, 39, 31, 21 and five companies respectively.