SECP registers 1,094 new firms in May

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,094 new companies in May 2018, registering a growth of 17 percent as compared to the corresponding month of the last financial year, a statement said on Wednesday.

This raised the total number of registered companies to 86,876. The massive increase is the result of the SECP’s various reforms measures, ie, introduction of simplified combined process for name reservation and incorporation, fee reduction, assistance of incorporation by facilitation wings of CROs, etc.

Around 76 percent companies were registered as private limited companies, while around 22 percent were registered as single member companies, it added. Two percent were registered as public unlisted, non-profit associations and foreign companies.

The trading sector took the lead with the incorporation with 178 companies, services 153, information technology 135, construction 132, tourism 42, food and beverages 39, real estate development 36, education 33, engineering 32, corporate agricultural farming 26, transport 21, textile, pharmaceutical, marketing and advertisement 19 each, auto and allied 18, broadcasting and telecasting 16, chemicals, fuel and energy and healthcare 12 each, communication and power generation 11 each and 118 companies were registered in other sectors.

Moreover, five foreign companies were also registered by the CRO Islamabad and Karachi, the statement said.

Foreign investment has been reported in 56 new companies.

These companies have foreign investors from, Canada, China, Czech Republic, Denmark, Iran, Jordan, Korea (South), Lebanon, Nepal, The Netherlands, Oman, Saudi Arabia, Singapore, Tanzania, Turkey, Ukraine and the US.

The highest number of companies, ie, 402 were registered in Islamabad; followed by 271 and 226 companies registered in Lahore and Karachi, respectively.

The CROs in Peshawar, Multan, Gilgit-Baltistan Faisalabad, Quetta, and Sukkur registered, 60, 42, 39, 31, 14 and nine companies, respectively, it said.