SECP registers 1,401 new firms in March

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 1,401 new companies in March, as compared to the corresponding month of last financial year, representing a 22 percent growth, raising the number of registered companies to 97,916.

Around 72 percent companies were registered as private limited companies, while around 24 percent were registered as single member companies. At least four percent were registered as public unlisted companies, non-profit associations, foreign companies and limited liability partnerships (LLPs).

The trading sector took the lead with the incorporation of 202 companies, construction with 171, IT 151, services 143, tourism 141, food and beverages 60, real estate development 52, and corporate agricultural farming registered 51.

Less than 50 companies were registered in the education sector with 44 comapnies, marketing and advertisement with 37 companies, transport 36, textile 33, engineering 32, pharmaceutical 21, healthcare 19, lodging and allied 18, power generation, and chemical 17 each, auto and allied 16, fuel and energy 15, communication 14, and mining and quarrying, and steel and allied registered 13 companies each, while 85 companies were registered in other sectors.

Foreign investment has been reported in 54 new companies from Australia, Canada, China, Finland, Germany, Italy, Japan, South Korea, Libya, Malaysia, the Netherlands, Nigeria, Poland, South Africa, Spain, UAE, and the US.

The highest numbers of companies, ie 532 were registered in Islamabad, followed by 375 and 252 companies registered in Lahore and Karachi, respectively.The CROs in Peshawar, Multan, Gilgit-Baltistan, Faisalabad, Quetta, and Sukkur registered, 94, 59, 34, 28, 23, and 4 companies, respectively.