SECP registers 1,290 firms in Feb

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 1,290 new companies in February 2019, depicting a growth of 26 percent over the corresponding month of last year.

With this new incorporation, the number of total registered companies with the SECP now stands at 96,510, a statement said on Wednesday.

The commission attributes this increase to various reforms like 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 company registration offices (CROs) etc.

Foreign investment has been reported in 39 new companies. These companies have foreign investors from the US, China, Russia, Germany, South Korea, Denmark, Singapore, Argentina, Sweden, Portugal, Jordan, and Kenya.

During the month under review, three-fourth of the companies registered were as private limited companies, while around 22 percent registered as single-member companies. Three percent were registered as public unlisted companies and limited liability partnerships (LLP).