ISLAMABAD The Securities and Exchange Commission of Pakistan (SECP) registered 773 new companies during June this year. This reflects a growth of 28 percent over the corresponding period of the last year.
The total number of registered companies increased to 87,622. The massive increase is the result of the SECP’s various reforms measures including introduction of simplified combined process for name reservation and incorporation, reduction in fee, assistance of incorporation by facilitation wings at CROs etc, according to official handout released by the SECP on Thursday.
Out of total registered around 77% are private limited and 21% are registered as single-member companies. Two percent are registered as public unlisted, non-profit associations, foreign companies and limited liability partnerships (LLPs).
The services sector took the lead with the incorporation of 113 companies, trading with 104, IT with 94, construction with 82, tourism with 37, food and beverages with 28, real estate development with 27, engineering with 22, broadcasting and telecasting, education, and marketing and advertisement with 19 each corporate agricultural farming with 17, transport, auto and allied and textile with 16 each, pharmaceutical with 15, communication with 12, healthcare and logging with 11 each, and 95 companies were registered in other sectors. Moreover, two foreign companies were also registered by the Karachi CRO.
Foreign investment has been reported in 39 new companies. These companies have investors from Australia, Canada, China, France, Germany, Indonesia, Japan, Jordan, Portugal, Saudi Arabia, Singapore, Syria, the UK and the US.
The highest numbers of companies, i.e. 261 were registered in Lahore, followed by 255 and 153 registered in Islamabad and Karachi respectively. The CROs in Peshawar, Multan, Faisalabad, Gilgit-Baltistan, Quetta, and Sukkur registered, 30, 27, 17, 12, 10 and 8 companies respectively.
(This news/article originally appeared in The Nation on July 6th, 2018)