SECP registers 1,317 firms in Jan

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,317 new companies in January, showing a nine percent increase in registration as compared to the corresponding month of the last financial year.

The rising number of registered companies to over 95,000 could be attributed to various reforms, such as the introduction of simplified combined process for name reservation and incorporation, one window facility for company incorporation and NTN generation, reduction of fee, assistance of incorporation by facilitation wings of CROs, etc.

Around 73 percent companies were registered as private limited companies, while around 24 percent were registered as single-member companies. Three percent were registered as public unlisted, non-profit associations, foreign companies, and limited liability partnership (LLP).

The trading sector took the lead with the incorporation of 214 companies. It was followed by the services sector with 185 companies, construction 180, IT 128, and tourism with 74 companies. Sectors registering less than 50 included food and beverages with 43 companies, education, marketing and advertising, and real estate development 42 each, transport 40, corporate agricultural farming 37, engineering 30, communication, and pharmaceutical 24 each, textile 19, mining and quarrying 18, broadcasting and telecasting, and fuel and energy 16 each, chemical and cosmetics and toiletries 13 each, cables and electric goods, lodging, and power generation 12 each, and healthcare 11, while 70 companies were registered in other sectors.